问题如下图：
选项：
A. 
B. 
C. 
解释：
题目问的难道不是哪个选项没有把working capital扣除么。。。。
maggie_品职助教 · 2019年01月12日
题目问的是题干中Cannan认为没有但Ritter说有的现金流是哪种，所以只要是满足Cannan对这个现金流描述的选项就是正确的。
有用的题干节选如下：
The reason is that he could not identify a cash flow measure that would both account for working capital and non-cash revenues, and also be after interest expense .Ritter advises Cannan that such a cash flow measure does exist.
这个现金流需要既要考虑WC和非现金收入，还要是扣减利息费用之后的。根据FCFE的公式我们知道它是满足上述条件的。加油。
NO.PZ201512300100001105问题如下5. The cash flow measure thRitter woulmost likely recommento aress Cannan’s concern is:A.free cash flow to equity.B.earnings plus non-cash charges.C.earnings before interest, tax, preciation, anamortization.A is correct.Free cash flow to equity (FCFE) is finecash flow available to shareholrs after cting all operating expenses, interest anpayments well investments in working anfixecapital. Cannan’s requirement ththe cash flow inclu interest expense, working capitannoncash revenue is satisfieFCFE.题目背景里说Cannan担心现金流去除了WC等
NO.PZ201512300100001105 问题如下 5. The cash flow measure thRitter woulmost likely recommento aress Cannan’s concern is: A.free cash flow to equity. B.earnings plus non-cash charges. C.earnings before interest, tax, preciation, anamortization. A is correct.Free cash flow to equity (FCFE) is finecash flow available to shareholrs after cting all operating expenses, interest anpayments well investments in working anfixecapital. Cannan’s requirement ththe cash flow inclu interest expense, working capitannoncash revenue is satisfieFCFE. C为什么错
NO.PZ201512300100001105 问题如下 5. The cash flow measure thRitter woulmost likely recommento aress Cannan’s concern is: A.free cash flow to equity. B.earnings plus non-cash charges. C.earnings before interest, tax, preciation, anamortization. A is correct.Free cash flow to equity (FCFE) is finecash flow available to shareholrs after cting all operating expenses, interest anpayments well investments in working anfixecapital. Cannan’s requirement ththe cash flow inclu interest expense, working capitannoncash revenue is satisfieFCFE. 如题，感谢
NO.PZ201512300100001105 可是它不是有restricting charge =公式资本结构不稳定？,为啥用FCFE，EBIT不行吗？ FCFE里面考虑了non cash charge ?
请问 FCFF 满足条件吗？？