Voluntary disclosure by managers is becoming an increasingly important source of information. Which of the following is least likely to be a reason for this increased disclosure?

Voluntary disclosure by managers is becoming an increasingly important source of information. Which of the following is least likely to be a reason for this increased disclosure? 



A. Protection under Safe Harbor Rules.
B. To manage investors' expectations.
C. To signal information to investors.
D. To respond to increased demands by labor unions.




Answer: D


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