Which THREE of the following factors would justify a reduction in the proxy p/e ratio before use?

When valuing an unlisted company, a P/E ratio for a similar listed company may be used but adjustments to the P/E ratio may be necessary.

Which THREE of the following factors would justify a reduction in the proxy p/e ratio before use?
A . The relative lack of marketability of unlisted company shares.
B . A lower level of scrutiny and regulation for unlisted companies.
C . Unlisted companies being generally smaller and less established.
D . Control premium not being included within the proxy p/e ratio used.
E . The forecast earnings growth being relatively higher in the unlisted company.
F . A profit item within the unlisted company’s latest earnings which will not reoccur.

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Answer: A,B,C