NO.PZ201512300100001202
问题如下：
2. The most appropriate response to Nkomo’s Question 1 would be that the present value of future residual earnings is expected to be:
选项：
A.zero.
B.positive.
C.Negative.
解释：
The intrinsic value of R22.00 is greater than the current book value of R20.00. The residual income model states that the intrinsic value of a stock is its book value per share plus the present value of expected (future) per share residual income. The higher intrinsic value per share, relative to book value per share, indicates that the present value of expected per share residual income is positive.
