单选题

The least likely reason that a security analyst needs to understand the accounting process is to:

A、 prevent earnings manipulation by management.
B、 make adjustments to reflect items not reported in the financial statements.
C、 aid in the assessment of management's judgment in accruals and valuations.

【正确答案】 A

【答案解析】

A is correct. Understanding the accounting process may assist an analyst in identifying earnings manipulation, but it will not prevent the manipulation of earnings by management. It is important for analysts to understand the accounting process so they can make adjustments for items not reported and to aid in the assessment of management's judgment of accruals and valuations.