NO.PZ2023081403000138
问题如下：
Q. Which of the following would be the analyst’s most likely conclusion?An analyst is evaluating the solvency and liquidity of Apex Manufacturing and has collected the data in Exhibit 1:
Exhibit 1:
Solvency and Liquidity of Apex Manufacturing (euro millions)
选项：
A.The company is becoming less liquid, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5. B.The company is becoming increasingly more liquid, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5. C.The company is becoming increasingly less solvent, as evidenced by the increase in its debt-to-equity ratio from 0.35 to 0.50 from FY3 to FY5.解释：
C is correct. The company is becoming increasingly less solvent, as evidenced by its debt-to-equity ratio increasing from 0.35 to 0.50 from FY3 to FY5. The amount of a company’s debt and equity do not provide direct information about the company’s liquidity position.
Debt to equity:
FY5: 2,000/4,000 = 0.5000FY4: 1,900/4,500 = 0.4222FY3: 1,750/5,000 = 0.3500D/E越来越大，怎么解释偿付能力越来越低呢？是说D大于E的部分越大，负债越多，可以这么解释么？
