Question: C11.3. Statewhether the following measures drive return on common equity (ROCE) positively, negatively, or depending on thecircumstances: a. Gross margin. b. Advertising expense ratio. c.

C11.3. Statewhether the following measures drive return on common equity (ROCE)

positively, negatively, or depending on thecircumstances:

a. Gross margin.

b. Advertising expense ratio.

c. Netborrowing cost.

d. Operating liability leverage.

e. Operating liability leverage spread.

f. Financial leverage.

g. Inventory turnover.

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