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segalm

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tT
发表于 2011-7-11 19:36 | 只看该作者

Just need to check

investment, following, includes, interest, payments
I think this question is a dud.

Which of the following is least likely one of the differences between FCFE and FCFF? FCFF includes adjustments to revenue for:

A) working capital investment.
B) interest payments to bondholders.
C) operating expenses
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WarrenB1

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2#
发表于 2011-7-11 19:36 | 只看该作者
i might say (a).

It's which is least likely a difference between FCFF and FCFE - in regards to working capital investment, would this amount not be the same for both FCFF and FCFE? And therefore, its not a "difference" between the 2?

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hassan

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3#
发表于 2011-7-11 19:36 | 只看该作者
Has to be A.

Interest is an operating expense. Interest Payments are also different.

WCInv is subtracted from both.

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tianxin

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4#
发表于 2011-7-11 19:36 | 只看该作者
LEAST LIKELY A DIFFERENCE.

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YAhmed

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5#
发表于 2011-7-11 19:36 | 只看该作者
interest is most definitely not an operating expense, unless your a financial institution.

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CPATrader

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6#
发表于 2011-7-11 19:36 | 只看该作者
Agreed, I guess it just seems like it has to be A.

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kingstongal

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7#
发表于 2011-7-11 19:36 | 只看该作者
why would it be a?

both FCFF and FCFE : WCInv needs to be deducted.
Operating Expenses : Are also deducted.

FCFF -> includes Interest payment addition. SO IT IS NOT DEDUCTED.

That is your difference.

CP

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