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The equity multiplier, EM, is 1/(1-D/A) where D/A is the debt to assets ratio. ROE = ROA*EM. Which statements are true with regards to banks and the equity multiplier? More than one statement can be correct.
Banks commonly have a D/A of around 90% resulting in an EM of 10.
A high equity multiplier can result in a high probability of bankruptcy.
The higher the EM the more stable the company.
Most companies have a much lower EM than banks.
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