问题
单项选择题
Which of the following is a disadvantage of using the price-to-book value (PBV) ratio()
A. Book values are affected by accounting standards, which may vary across firms and countries.
B. Firms with negative earnings cannot be evaluated with the PBV ratios.
C. Book value may not mean much for manufacturing firms with significant fixed costs.
答案
参考答案：A
解析：
The disadvantages of using PBV ratios are: Book values are affected by accounting standards, which may vary across firms and countries; Book value may not mean much for service firms without significant fixed costs ; Book value of equity can be made negative by a series of negative earnings, which limits the usefulness of the variable.