Which of the following was not pointed to by the SEC as a motivation for fraud in the Xerox case?
A) Xerox misled investors by polishing its reputation on Wall Street and to boost the company's stock price
B) Xerox top management overrode the internal control to manipulate earnings
C) Xerox failed to disclose GAAP violations that led to acceleration in the recognition of approximately $3 billion in equipment revenues
D) Xerox recognized a greater amount of revenue on leases in early years than warranted and didn't break out revenues that should have been deferred and recognized in future years

Question

Quizplus · Accepted Answer

The SEC did not specifically point to the overriding of internal controls by top management as a motivation for fraud in the Xerox case. The focus was more on misleading investors, GAAP violations, and improper revenue recognition.

Which of the Following Was Not Pointed to by the SEC