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单项选择题

Which of the following would be assessed first in a top-down valuation approach（）

A．Fiscal policy.
B．Industry return on equity (ROE).
C．Company return on equity (ROE).

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单项选择题Peter Welsh, CFA, gathered the following information from a company's most recent financial statements ( U.S. $ in millions):

A．Preferred stock
B．40
C．Common stock
D．120
E．Additional paid-in capital
F．30
G．Retained earnings
H．190
I．Treasury stock
J．(55)
K．Total shareholders' equity
L．325
M．Total number of common shares outstanding
N．10 million
O．Tax rate
P．40%

单项选择题An analyst gathered the following information about a company:（）

A．33%
B．4%
C．12.06%.