NO.PZ2018103102000110
问题如下：
According to the financial statement, what`s the FCFE for Company M?
选项：
A. $206 million
B. $258 million
C. $281 million
解释：
C is correct.
考点：Computing FCFE from Different Accounting Items
解析：从NI出发计算FCFE：FCFE = NI + NCC – WCInv – FCInv + Net Borrowing
WCInv = Increase in accounts receivable – increase in accounts payable = 59-33 = $26 million
NB = Increase in notes payable + increase in long-term debt = 15+60 = $75 million
FCFE = 485 + 270 – 26 – 523 +75 = $281 million
请问老师，dep is always the only NCC吗？如果不是，通常NCC要如何计算呢？谢谢老师
