NO.PZ2016012102000186
问题如下：
Which of the following statement is most appropriate about the financial statements quality?
选项：
A.It may lead to a low-quality financial statement if using conservative accounting choices.
B.It is unlikely to cause a low-quality financial statement if managing the earnings.
C.It always means a low-quality financial statement if the cash flows are unsustainable.
解释：
A is correct.
Earnings management always be regarded as a sign of low-quality financial statements. Even if earnings or cash flows are unsustainable or low quality, the firm's financial statements can still be high quality.
Conservative accounting choices can cause a bias and result in low-quality financial statements.
考点：财务报表质量的判断
B选项错误，利润操纵一直被视为低质量财务报表的标志。
C选项错误，不稳定的现金流并不一定意味着财报低质量。财报质量和盈利质量是两回事，报质量要求企业遵守会计准则，而盈利质量是指公司的盈利要金额高，可持续。
A选项正确。不管是保守还是激进，都会导致会计报表有bias，只是两者相比，保守的政策比激进的更好一些。高的会计报表质量应该是中立的，不高估也不低估企业的数据，即不激进也不保守。
it will lead to a high-quality earnings if using conversative accounting，是不是就对了？或者it will lead to a low-quality earnings if using conversative accounting, 就错了？
也就是保守/激进会计处理影响的是earnings，并不是financial reporting.
财报的质量高低主要看relevance和faith represetation?
