NO.PZ2018111303000074
问题如下：
PZ’s financial statements adhere to generally accepted accounting principles, PZ overstate earnings when economy is recession and understate earnings when economy is booming，PZ’s financial statements are best categorized as:
选项：
A.
GAAP, decision-useful, sustainable, and adequate returns
B.
Within GAAP, but "earnings management"
C.
GAAP, decision-useful, not sustainable, Low "earnings quality"
解释：
B is correct.
考点：Quality Spectrum Of Financial Reports
解析：这个题考的是一级财务的知识
题干说了公司是遵守会计准则的(GAAP)，注意这里不是指US GAAP，而是说公司遵守了普遍适用的会计准则，但是earning 有问题，所以选B。具体描述：Reporting is compliant with GAAP, but the amount of earnings is actively managed to increase, decrease, or smooth reported earnings.
我想问，除去概念对比之外，不选c的原因是不是因为无法判断earning是否
sustainable？ 因为从题目当中的overstate和understate描述，总感觉是在操纵报表以致于low
quality.
