Which of the Following Are True Concerning the Properties of Consensus

Which of the following are true concerning the properties of consensus earnings forecasts for cyclical companies?
I.They account for the cyclical nature of the firm.
II.Discounted cash flow (DCF ) models are usually consistent with the facts.
III.The forecasts usually show an upward-sloping trend.
IV.The earnings and cash flow projections of the market are consistent with company performance.

A) I and II only.
B) I and III only.
C) II and III only.
D) II and IV only.

Correct Answer:

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