问题如下：
3. Compared with its unadjusted debt-to-equity ratio, Mikko’s debt-to-equity ratio as of 31 December 2009, after the adjustments suggested by Groff, is:
选项：
A.lower.
B.higher.
C.the same.
解释：
A is correct.
Mikko’s adjusted debt-to-equity ratio is lower because the debt (numerator) is unchanged and the adjusted shareholders’ equity (denominator) is higher. The adjusted shareholders’ equity corresponds to shareholders’ equity under FIFO, excluding charges for increases in valuation allowances. Therefore, adjusted shareholders’ equity is higher than reported (unadjusted) shareholders’ equity.
不用考虑减值调整的那部分吗？
