导读：每次考试结束ACCA考官都会依据本次考试考生的总体体现状况写陈述，具体分析学生在答题过程中呈现的问题，总结学生在备考该门类时大概留意的事项，高顿网校的小编为大家整理了F9考官陈述：
　　Question Four （c）
　　Candidates were asked to calculate three values: the before-tax market value of a bond, book-value debt/equity ratio and market value debt/equity ratio; and to discuss the usefulness of the debt/equity ratio in assessing financial risk. The before-tax market value of the bonds was often calculated correctly as the sum of the present values of the future interest payments on the bond and the present value of the redemption value of the bond. Occasional errors were made by selecting the wrong discount rate for the bond, or by using the wrong maturity period. Book value debt/equity ratio was more frequently calculated correctly than market value debt/equity ratio. Errors in the calculation of both ratios were sometimes made by including current liabilities in the numerator with the debt. Book value debt/equity ratio includes reserves, while market value debt/equity ratio excluded reserves, and some calculations made mistakes in this area. Discussions of the usefulness of the debt/equity ratio in assessing financial risk were often disappointing. Many discussions did not explain the nature of financial risk and showed a lack of awareness that a calculated debt/equity ratio needs a basis of comparison to have meaning. Few discussions noted that financial risk could also be assessed by interest cover.
 
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