问题
单项选择题
Two companies operating in the same industry both achieved the same return on equity with the same net sales, but the two companies were different with respect to return on total assets. Compared with the company that had the higher return on total assets, the company with the lower return on total assets most likely had a higher:（）
A. total asset turnover.
B. financial leverage multiplier.
C. proportion of common equity in its capital structure.
答案
参考答案：B
解析：
[分析]： 根据杜邦分析法，我们可以将权益回报率(ROE)分解成以下三个部分：利润率、总资产周转率和财务杠杆乘数。用公式来表述上述关系就是： 权益回报率(ROE)=利润率×总资产周转率×财务杠杆乘数(1-9) 由本题题干可知，两家厂商具有相同的权益回报率(ROE)，从而基于上述公式可知，与总资产回报率(总资产周转率)较高的厂商相比，具有较低总资产回报率(总资产周转率)的厂商将具有较高的财务杠杆乘数。 [考点] 杜邦分析法的应用