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张文文 · 2021年01月30日

问一道题:NO.PZ201710200100000206 第6小题 [ CFA II ]

* 问题详情,请 查看题干

问题如下:

6. Using the data in Exhibit 3, Withers can estimate the sustainable growth of the Wakuni Corporation as being closest to:

选项:

A.

10.66%.

B.

11.04%.

C.

14.05%.

解释:

A is correct, based on the use of average total assets and beginning-of-year

shareholders’ equity

g= Net income Dividend Net income × Net income Sales × Sales Total assets × Total assets Shareholders' equity

To calculate sustainable growth,

g= 43,923 1,528 43,923 × 43,923 434,474 × 434,474 486,203 × 486,203 397,925 = 96.544% × 10.372% × 87.100% × 122.200% = 10.658%

老师 看了其他答案还是不懂为什么ROE的计算不用期初和期末的平均值、不应该要跟NI对应吗?谢谢
1 个答案

Debrah_品职答疑助手 · 2021年01月31日

同学你好,现在系统没法贴截图,你看看之前Maggie老师给同学截图的原版书的话:https://class.pzacademy.com/qa/8060