With regard to stock market indexes, it is least likely that:（）
A. the use of a geometric mean produces a downward bias on an equal-weighted index compared to the use of an arithmetic mean.
B. the use of price weighting versus market value weighting produces a downward bias on the index.
C. a value-weighted index must be adjusted for stock splits but not for dividends.
参考答案：C
解析：
A price-weighted index needs to be adjusted for Stock splits, but a value-weighted index does not. Neither type of index considers dividend income. Using a geometric mean rather than an arithmetic mean will produce a lower value for an equal-weighted index. Price weighting produces a downward bias compared to market weighting because firms that split their stocks (which tend to be the more successful firms ) decrease in weight within a price-weighted index.