40 word answer to homework question

ANSWER MUST BE ORIGINAL AND NOT COPIED/PARAPHRASED

We all know that GAAP accounting principals give management a lot of room to manage financial reporting.  For example:  They can use LIFO accounting to increase current assets and reduce taxes or they can use FIFO if they want to show faster inventory turns and increase profits they report.  This is just one example.

So here is the question.  If management follows GAAP accounting principals to window dress their statements and what they report to the outside world: Do they still have an ethics problem?

 

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