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兔宝猪妈 · 2021年03月23日

选项C应该是undifferent才对吧

  1. CFA II
  2. Corporate Issuers

NO.PZ2016021705000059

问题如下：

A company has positive free cash flow and is considering whether to use the entire amount of that free cash flow to pay a special cash dividend or to repurchase shares at the prevailing market price. Shareholders’ wealth under the two options will be equivalent unless the:

选项：

A.

company’s book value per share is less than the prevailing market price.

B.

company’s book value per share is greater than the prevailing market price.

C.

tax consequences and/or information content for each alternative is different.

解释：

C  is correct.

For the two options to be equivalent with respect to shareholders’ wealth, the amount of cash distributed, the taxation, and the information content must be the same for both options.

选项C应该是undifferent才对吧
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王琛_品职助教 · 2021年03月24日

嗨，努力学习的PZer你好：


- 选项没问题，是 different 哈

- unless 可以理解为 if not, 你把 not 放到 different 前，就是表示相同了

- 原理请参考：https://class.pzacademy.com/qa/69502

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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