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139****0989 · 2024年05月22日

C为什么不对啊

NO.PZ2024010507000010

问题如下:

An analyst assesses that a company’s new human resources policies will lead to less hiring and lower costs to train new employees. Based on this assessment, the analyst is most likely to adjust the discounted cash flow valuation model by:

选项:

A.increasing the cost of capital.

B.increasing the expected operating margins.

C.reducing future capital expenditures in balance sheet forecasts.

解释:

B is correct. Reduction in hiring and training costs due to improved policies leads to cost savings, and the analyst would most likely increase the expected operating margins.

C为什么不对啊?margin是什么意思?

1 个答案

Tina_品职助教 · 2024年05月22日

嗨,努力学习的PZer你好:


C 不正确,因为减少招聘和培训成本主要影响的是公司的运营费用,而不是资本支出。资本支出通常涉及购买固定资产或其他长期投资,与日常运营成本无关。虽然降低运营成本可能间接影响未来的资本支出决策,但直接减少招聘和培训成本主要会提升公司的运营利润率(Operating Margins),而不会直接导致资本支出的减少。

Margin 在财务和会计领域通常指的是利润率。营业利润率(Operating Margin)是衡量公司运营效率的重要指标,表示公司在扣除运营成本后的营业利润占总收入的百分比。提高营业利润率意味着公司在每一单位收入上的盈利能力增强,反映出更高的运营效率和成本控制能力。

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