请问

问题如下：

Mohammad al Mollabi serves as an analyst covering publicly traded consumer discretionary stocks and has been asked to analyze the value of a privately held consumer discretionary company. What types of adjustments (compared to public company valuations) will al Mollabi most likely need to make in valuing the private company?

选项：

A.

Only cash flow adjustments

B.

Only discount rate adjustments

C.

Both cash flow and discount rate adjustment

解释：

To value a private company, both cash flows (i.e., the numerator of the valuation) and discount rate (i.e., the denominator of the valuation) must be adjusted.