Apparently it can. A picture is by essence, intrinsically true and objective. It stops being so when manipulated by us. We can edit it, put it in different settings, give it different captions... We manipulate it until getting rid of its objectivity. Does that mean that we are ought to question today's photojournalism just as we question journalism in general? Yes.
2004- Piers Morgan publishes fake photographs of British soldiers abusing Iraquis in the Daily Mirror:
Nov. 2010- Several Spanish newspapers (El Mundo, El Pais, La Vanguardia) publish erroneous photo of children in the Gaza strip from 2005 with the following caption: "Even children cannot escape Morocco's repression":