credit card receivable-backed securities是non-amortizing的，对吧？non-amortizing不应该就是with a balloon payment嘛？

这个题目为什么选A呢？b,c为什么不行呀？

为什么repayment terms for loan不考虑

negative pledge这个在哪里讲过呢？

这题哪里讲过呢？求个知识点总结

the least likely explanation for why fiscal policy cannot stabilize aggregate demand completely is that, 为什么老师说这题就理解为fiscal policy的缺点，前面说了least likely后面说cannot，不是应该说fiscal policy优点了吗

老师，但是这里的B选项PE是属于另类投资高风险高回报吧，为嘛不选它呢

老师，这题的逻辑思路我懂，但是选项理解刚好和答案反过来。题干是要求选对管理决定最具有影响，是费用化而不是资本化这些支出。但是选项里面好像是说如果这些支出被资本化，这些指标会怎样……那不是A，B，C都对吗？请教老师。谢谢🙏

老师：The free cash flow to equity (FCFE) model is a measure of the firm’s dividend-paying capacity, （which should be reflected in the cash flow estimates rather than expected dividends. the cash flow estimate 与 expected dividends 的区别？ Analysts must make projections of financials to forecast future FCFE, and （thus the constant growth assumption, as in the Gordon growth model, is not an issue.）为什么？ An asset-based valuation model is not appropriate because of the high proportion of intangibles (goodwill and patents) in the firm’s assets. 谢谢！

老师，2520(5600*45%)的保证金不是做空者交给broker的费用吗，为什么不在profit中进行扣除？