What practice involves omitting relevant expenses to present an inflated profit?

The practice of omitting relevant expenses to present an inflated profit is best described by window dressing. This term refers to the manipulation of financial statements to make a company appear more attractive to investors or stakeholders than it actually is. By excluding certain expenses or presenting them in a misleading manner, the financial results can be artificially enhanced, creating an illusion of profitability.

Window dressing is often done at the end of a reporting period, with the intent to impress stakeholders or to meet certain financial targets. This deceptive practice can lead to a misrepresentation of the company's true financial performance and can have significant implications for decision-making and trust in the financial reporting.

In contrast, the other options refer to different types of financial manipulation. Cooked financial statements generally imply a broader range of deceptive practices in financial reporting, False accounting can refer to more systematic and deliberate falsifications of records beyond just profit inflation, and Inventory distortion specifically relates to manipulating inventory values, which may not necessarily equate to inflating profit.