NO.PZ2023081403000145
问题如下：
Q. An analyst compiles the data in Exhibit 1 for a company:
Exhibit 1:
Net Profit Margin
Based only on the information above, the most appropriate conclusion is that, over the period FY13 to FY15, the company’s:
选项：
A.net profit margin and financial leverage have decreased.
B.net profit margin and financial leverage have increased.
C.net profit margin has decreased but its financial leverage has increased.
解释：
C is correct. The company’s net profit margin has decreased and its financial leverage has increased. ROA = Net profit margin × Total asset turnover. ROA decreased over the period despite the increase in total asset turnover; therefore, the net profit margin must have decreased.
ROE = Return on assets × Financial leverage. ROE increased over the period despite the drop in ROA; therefore, financial leverage must have increased.
total asset turnover没有讲过，解析里的roa公式也没讲过
