Consider the following statements. Which are true?

A. ROCE is the same under the Advanced and Traditional Profitability Analyses.

B. Unlike ROA, ROIC (Return on Invested Capital) is unaffected by the profitability of financial assets.

C. Unlike ROA, ROIC is affected directly by the use of operating liabilities (e.g. trade credit from suppliers as reflected in Account Payable).

D. Unlike ROA, ROIC is affected by the use of debt vs. equity financing.

A only

B only

A, B, and C only

All of the above