Look at the Following Table of Data for Key Biscuit

question 47

Multiple Choice

Look at the following table of data for Key Biscuit Company: What must have caused the firm's ROE to drop?

• A)The firm began using more debt as a percentage of financing.
• B)The firm began using less debt as a percentage of financing.
• C)The compound leverage ratio was less than 1.
• D)The operating ROA was declining.

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