b选项不是应该用market value么？

问题如下：

Book value is least probable to be taken into account while using:

选项：

A.

An multiplier model.

B.

An asset based valuation model.

C.

A present value model.

解释：

C is correct.

The multipliers valuation model (in the form of P/B) and asset-based valuation models (in the form of book value adjustments) use book value, but the present value model usually discount the future expected cash flows.

考点：Asset-based Valuation

BV是记录在资产负债表上的价值。乘数法中的市净率P/B，会涉及使用权益的账面价值。Asset-based 模型=资产的市场价值（如果一些资产没有很容易就可得的市场价值我们就用账面价值来代替）-负债的市场价值

而现值模型是用分析师预测的未来现金流进行折现得到的，不涉及账面价值。所以本题选C。