Effects of deceptive accounting practices

Whenever stockholders who made big financial investments in Enron prior to the mid-1990s suffered huge losses during the year 2001-2002 since of deceptive accounting practices and insider trading, they were the victims of problem termed as: (1) Adverse selection (2) Moral hazard. (3) Bureaucratic gambling. (4) Stock market risk.

Can someone please help me in finding out the accurate answer from the above options.

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