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Basic Question 1 of 6
The reading indicates that corporate profitability is considered by some analysts to be an important ______ indicator of the business cycle.
B. trailing
C. synchronizing
A. leading
B. trailing
C. synchronizing
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Learning Outcome Statements
explain how the phase of the business cycle affects short-term and long-term earnings growth expectations;
explain the relationship between the consumption hedging properties of equity and the equity risk premium;
describe cyclical effects on valuation multiples;
CFA® 2025 Level II Curriculum, Volume 6, Module 37.