Question: State whether the following measures drive return on common equity (ROCE) positively, negatively, or depending on the circumstances (explain the circumstance): a. Gross margin b.

State whether the following measures drive return on common equity (ROCE) positively,

negatively, or depending on the circumstances (explain the circumstance):

a. Gross margin

b. Advertising expense ratio

c. Net non-operating expense

d. Financial leverage (FLEV)

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