Which of the following statements is false with regard to quality of financial reporting? Financial statements should reflect an accurate picture of a company’s financial condition and performance. It is unlikely that management can manipulate the bottom line due to the regulations in place to enforce GAAP. Financial information should be useful both to assess the past and predict the future. The closer that the picture presented through the financial data is to reality, the higher the quality of financial reporting.

Owns a machine that can produce two specialized products. production time for product tlx is two units per hour and for product mtv is four units per hour. the machine’s capacity is 2,100 hours per year. both products are sold to a single customer who has agreed to buy all of the company’s output up to a maximum of 3,570 units of product tlx and 1,610 units of product mtv. selling prices and variable costs per unit to produce the products follow. product tlx product mtv selling price per unit $ 11.50 $ 6.90 variable costs per unit 3.45 4.14 determine the company's most profitable sales mix and the contribution margin that results from that sales mix.