Question: Common characteristics of operating and financial leverage include: a. both involve the substitution of fixed for variable cash outflows. b. both are affected by a
Common characteristics of operating and financial leverage include:
| a. | both involve the substitution of fixed for variable cash outflows. | |
| b. | both are affected by a firm's investing decisions. | |
| c. | both are affected by a firm's financing decisions. | |
| d. | None of the above |
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