Quality financial statements are a good reflection of reality; accounting tricks and one-time changes are not used to make the firm appear stronger than it really is.

Question

Quizplus · Accepted Answer

Quality financial statements are meant to provide an accurate representation of a company's financial health, and thus, it should be free from accounting tricks or one-time changes that could potentially mislead investors or stakeholders.

Quality Financial Statements Are a Good Reflection of Reality; Accounting