operating leverage 怎么算

问题如下：

Which set of conditions most enhances a firm's capacity for debt management?

选项：

A.

Stable cash flows, high operating leverage, and limited tangible assets

B.

Volatile cash flows, high operating leverage, and extensive tangible assets

C.

Stable cash flows, low operating leverage, and extensive tangible assets

解释：

A is incorrect because stable cash flows and low operating leverage contribute to a firm's ability to manage debt effectively, whereas limited tangible assets may not significantly support debt capacity.

B is incorrect as volatile cash flows and high operating leverage typically increase financial risk, making debt management more challenging, despite the presence of extensive tangible assets.

C is correct, a company's ability to support debt improves with stable cash flows and low operating leverage. Extensive tangible assets can provide additional security for debt, enhancing the firm's capacity to bear financial leverage​​.