An argument against using the price-to-earnings (P/E) valuation approach is that:
A) research shows that P/E differences are significantly related to long-run average stock returns.
B) earnings power is the primary determinant of investment value.
C) earnings can be negative.
Answer: C
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.