NO.PZ2021091701000038
问题如下:
Other factors being equal, in which of the following situations are debt–equity
conflicts likely to increase?
选项:
A.Financial leverage is low.
The company’s debt is secured.
The company’s debt is long-term.
解释:
C is correct. Long-term debt is more exposed than short-term debt to the risk
of a management decision that is not debtholder-friendly. Secured debt is less
exposed than unsecured debt to such a risk, and with low leverage, the risk of
debt–equity conflict is reduced, not increased, relative to high leverage.
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