NO.PZ2022120703000064
问题如下：
With regard to financial modelling, which of the following statements about adjustments based on ESG assessments is most accurate?
选项：
A.Adjustments should not be made to the balance sheet B.The size of any cost of capital adjustment ranges from -1% to +1% C.Adjustments to the capital expenditures line can be direct or risk adjusted解释：
C is correct because "an adjustment can be a direct impact, e.g. an assessment of an environmental litigation fine being US$400m (£288m), or the risk adjusted impact of a carbon tax might be forecast to be an absolute dollar amount per year in a model."
A is incorrect because "adjustments can be made directly to the balance sheet or capital expense lines. A practitioner may believe that ESG factors will lead a company to decrease or increase its future capital expenditure. A forecast ESG impairment event, e.g. a sub-standard factory, may result in an impairment charge being made to bring the company’s book value down."
B is incorrect because "the sizing of the adjustment is typically at the discretion of the analyst, although there may be guidelines the analyst utilizes."
这题不是很理解，请解释说明下
