图中讲义，A公司对子公司B进行合并，只合并B的资产与负债，而不合并B的所有有权益，老师的解释是：合并了资产与负债，等于合并了所有有权益。但是这样帐不可能平的，所以应该是合并了B的资产与负债后，同时将A公司对B公司的长期股权投资和B公司的所有者权益进行了抵销。这样理解正确么？

cash flows from taxes on income must be separately disclosed under a. IFRS only b. US GAAP c. both 根据笔记上， tax 在GAAP中只记录在CFO下，而在IFRS下根据function会记录在CFO, CFI, CFF下面，所以不是只有在IFRS下面需要separately disclosed吗？ 请问题目是这个意思吗？

老师，请问书本168页第四题答案Investments in alternatives, such as private equities, can take upwards of five years to reach a full commitment and potentially another decade to unwind.这一段怎么理解？在这里和题目有什么关系？

为什么long通胀风险的合成方式是long treasuries and short inflation-linked bonds？

A中文叫什么，长期短期分为啥不能理解成安流动性分，，，，虽然A是定义

老师，请问书本83页第七题题目是什么意思？能否详细讲解一下答案，不太明白是什么意思？

老师，请问书本82页第六题答案This situation, particularly a short squeeze, can lead to substantial losses and a suddenly unbalanced exposure if bor-rowing the underlying equity shares becomes too difficult or too costly for the arbitrageur这一段不理解？这种情形怎么产生loss不太明白？能否详细解释一下？ The convertible bond arbitrage strategy can lose money due to time decay of the convert-ible bond’s embedded call option during periods of reduced realized equity volatility and/or due to a general compression of market implied volatility levels这一段也不理解？time decay 和call option以及volatility之间怎么会lose money？ Convertible arbitrage strategies have performed best when convertible issuance is high (implying a wider choice among convertible securities as well as downward price pressure and cheaper prices这里的issuance is high指什么？括号里implying不理解是什么意思？能否详细解释一下？

前面讲 r 的公式，化简后分母是xy的标准差乘积，那么这里相当于用的x的方差，是否有冲突

历史问题在哪里 找不到

这道题为何选business risk不对？business risk包括sales risk