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Which statement is incorrect?
Compensation Packages
The combination of salary, benefits, and other forms of payment provided to employees for their work.
Firm Value
The total market value of all of a company's outstanding shares, representing the overall value of the company as determined by investors.
Accounting Flexibility
The degree of choice companies have in how they implement and apply financial reporting practices.
Covenant Violations
These are breaches of the terms agreed upon in debt agreements, potentially leading to penalties or the acceleration of debt repayment.
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