单选题 With respect to the Dupont analysis, if a company's return on equity is 20% and return on assets is 12.5%, the company's debt-to-equity ratio is closest to:
A. 0.60
B. 0.63
C. 1.67

【正确答案】 A

【答案解析】[解析] 采用杜邦分析法(DuPont system of analysis)：
Return on equity=Return on asset×Financial leverage，由此可得：
Financial leverage=Return on equity/Return on asset=asset/equity=20%/12.5%=1.60.
假设equity=1，则debt=1.60-1=0.60，得出debt-to-equity=0.60/1=0.60。