问题如下图：
选项：
A. 
B. 
C. 
解释：
没看懂问题问的backed是什么意思？我还以为是指倒退之类的意思呢
NO.PZ2018111303000092 问题如下 Analyst collectethe financiinformation about PZ company in the following table:Analyst also collectethe cash flow information about PZ company in the following table:The CFF inclus cash paifor interest of 1260 anthe CFO inclus taxes of 1850 in 2018, baseon the ratios for operating cash flow before interest taxes to operating income in 2018, the results shoulscrias: A.PZ’s earning are not backecash flow B.PZ’s earning are backecash flow C.no conclusion B is correct.考点operating cash flow before interest antaxes解析Operating cash flow before interest antaxes=CFO+支付利息的现金+支付税的现金，这一题比较特殊，因为题目中说interest是属于financing activity的，不属于CFO，所以它没有在CFO中扣除。既然它没有在CFO中扣除，那也就不需要加回了，只需要加回tax即可Operating cash flow before interest antaxes=8850+1850=10700将其除以EBTI得到10700/4579=2.34计算结果是大于1的，说明公司的earning质量较高。 对于这个题目不是很理解 题目中不是说CFO包含了2018年的t按道理说就不应该再加上tax了 应该直接8850/4579对比呀 不是很明白答案里面又加了一层的t在题目中CFO说已经inclu的情况下
NO.PZ2018111303000092 问题如下 Analyst collectethe financiinformation about PZ company in the following table:Analyst also collectethe cash flow information about PZ company in the following table:The CFF inclus cash paifor interest of 1260 anthe CFO inclus taxes of 1850 in 2018, baseon the ratios for operating cash flow before interest taxes to operating income in 2018, the results shoulscrias: A.PZ’s earning are not backecash flow B.PZ’s earning are backecash flow C.no conclusion B is correct.考点operating cash flow before interest antaxes解析Operating cash flow before interest antaxes=CFO+支付利息的现金+支付税的现金，这一题比较特殊，因为题目中说interest是属于financing activity的，不属于CFO，所以它没有在CFO中扣除。既然它没有在CFO中扣除，那也就不需要加回了，只需要加回tax即可Operating cash flow before interest antaxes=8850+1850=10700将其除以EBTI得到10700/4579=2.34计算结果是大于1的，说明公司的earning质量较高。 EBT-NI=tax=4012-3560=452解析中Operating cash flow before interest antaxes=8850+1850=10700里的1850是怎么算的
NO.PZ2018111303000092问题如下 Analyst collectethe financiinformation about PZ company in the following table:Analyst also collectethe cash flow information about PZ company in the following table:The CFF inclus cash paifor interest of 1260 anthe CFO inclus taxes of 1850 in 2018, baseon the ratios for operating cash flow before interest taxes to operating income in 2018, the results shoulscrias: A.PZ’s earning are not backecash flowB.PZ’s earning are backecash flowC.no conclusion B is correct.考点operating cash flow before interest antaxes解析Operating cash flow before interest antaxes=CFO+支付利息的现金+支付税的现金，这一题比较特殊，因为题目中说interest是属于financing activity的，不属于CFO，所以它没有在CFO中扣除。既然它没有在CFO中扣除，那也就不需要加回了，只需要加回tax即可Operating cash flow before interest antaxes=8850+1850=10700将其除以EBTI得到10700/4579=2.34计算结果是大于1的，说明公司的earning质量较高。 为什么分母是EBIT 不是NI
NO.PZ2018111303000092 问题如下 Analyst collectethe financiinformation about PZ company in the following table:Analyst also collectethe cash flow information about PZ company in the following table:The CFF inclus cash paifor interest of 1260 anthe CFO inclus taxes of 1850 in 2018, baseon the ratios for operating cash flow before interest taxes to operating income in 2018, the results shoulscrias: A.PZ’s earning are not backecash flow B.PZ’s earning are backecash flow C.no conclusion B is correct.考点operating cash flow before interest antaxes解析Operating cash flow before interest antaxes=CFO+支付利息的现金+支付税的现金，这一题比较特殊，因为题目中说interest是属于financing activity的，不属于CFO，所以它没有在CFO中扣除。既然它没有在CFO中扣除，那也就不需要加回了，只需要加回tax即可Operating cash flow before interest antaxes=8850+1850=10700将其除以EBTI得到10700/4579=2.34计算结果是大于1的，说明公司的earning质量较高。 分母是ebit，分子应该匹配CFO+int+tax
NO.PZ2018111303000092 问题如下 Analyst collectethe financiinformation about PZ company in the following table:Analyst also collectethe cash flow information about PZ company in the following table:The CFF inclus cash paifor interest of 1260 anthe CFO inclus taxes of 1850 in 2018, baseon the ratios for operating cash flow before interest taxes to operating income in 2018, the results shoulscrias: A.PZ’s earning are not backecash flow B.PZ’s earning are backecash flow C.no conclusion B is correct.考点operating cash flow before interest antaxes解析Operating cash flow before interest antaxes=CFO+支付利息的现金+支付税的现金，这一题比较特殊，因为题目中说interest是属于financing activity的，不属于CFO，所以它没有在CFO中扣除。既然它没有在CFO中扣除，那也就不需要加回了，只需要加回tax即可Operating cash flow before interest antaxes=8850+1850=10700将其除以EBTI得到10700/4579=2.34计算结果是大于1的，说明公司的earning质量较高。 这题为什么不是 EBIT 与 （CFO+CFI）之和进行比较？在计算cash flow baseaccruratio衡量earnings质量的时候，就用的（CFO+CFI）比较，为什么这里只用CFO，区别在哪里？
