单选题 Two companies are identical except for their accounting treatment of research and development costs. One company expenses all such costs immediately, while the other company capitalizes a portion of the costs. Compared to the company that capitalizes, the company that expenses immediately will most likely report a lower:

A、

A. financial leverage.
B、

B. total asset turnover.
C、

C. cash flow from operations.

【正确答案】 C

【答案解析】[分析] 对研发成本进行资本化处理的公司将上述费用记录在现金流表中的投资活动部分，而对研发成本进行费用化处理的公司则将上述费用记录在现金流表中的营业活动部分。因此，与采取资本化处理的公司相比，对成本采取费用化处理的公司将记录较低的营业现金流。 [考点] 成本资本化的影响；无形资产成本的资本化