NO.PZ201812100100000707
问题如下：
In response to Dodd’s request, Webster’s recalculated return on sales will most likely:
选项：
A.decrease.
B.remain the same.
C.increase.
解释：
A is correct.
The use of unconsolidated joint ventures or equity-method investees may reflect an overstated return on sales ratio, because the parent company’s consolidated financial statements include its share of the investee’s profits but not its share of the investee’s sales. An analyst can adjust the reported amounts to better reflect the combined amounts of sales. Reported net income divided by the combined amount of sales will result in a decrease in the net profit margin.
解析：Return on sales=NI/sales。行业同等公司对相似投资都使用了consolidation的方法，但是BIG公司没有consolidate，有可能使用了proportionate consolidation或者equity method。三种方法报告的NI是相同的，我们只需比较sales。如果consolidate，分母会变高，因为母公司sales会包含100%子公司的sales。因此如果调整BIG公司的return on sales以达到和行业可比的目的，该指标会变低。
unconsolidated equity investment.是除了合并之外的venture control或equity或者proportational consolidation？
题目里哪里体现了部分控制？
感觉学完了这部分内容，题目做起来还是找不到北。
