Question 20: Below is a graph showing traits of vulnerable listed firms in the US: Which of the following statements about the above graph is NOT correct? (a) The recession in 1992 was caused by the Savings and Loan crisis. (b) The recession in 2001 was caused by the Asian Currency Crisis. (c) The recession in 2008 was caused by the Global Financial Crisis. (d) The leverage ratio as measured by 'gross debt to assets' is likely to be a book debt tobook assets ratio, not a market value ratio. (e) Safe firms have low debt to assets ratios, high ROA and high EBITDA to interestexpense ratios.

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