问一道题：NO.PZ201612170100000205

问题如下：

5.Regarding the choice of forecast horizon for a discounted cash flow model, which of the following statements is least accurate? The forecast horizon:

选项：

for a highly cyclical company should be long enough to allow the company to reach a mid-cycle level of sales and profitability.

should be independent of the investment strategy for which the stock is being considered.

should be long enough to allow the full benefits from an acquisition to be reflected in the financial statements.

解释：

5.B The forecast horizon should be influenced by the investment strategy for which the stock is being considered.