NO.PZ2018103102000117
问题如下：
Matt is representing two statements regarding the free cash flow.
Statement 1: The payment of dividends and share repurchases do not affect free cash flow.
Statement 2: Changes in leverage would affect free cash flow to equity.
How many statements are incorrect?
选项：
A. Two
B. One
C. None
解释：
C is correct.
考点：Computing FCFF From Different Accounting Items
解析：公司和股东之间的交易，例如：现金股利，股份回购，发行股票等等都不会对自由现金流产生（FCFF&FCFE）影响。但是，公司杠杆的变化会对股东自由现金流产生影响。
我记得FCF是不受Dividend影响的估值方法，所以不发股利的公司也可以用fcf估值。但是special issue里讲了FCFE的公式里有div of preferred stock。这算影响FCFE了吗？然后就有点混乱了，请老师讲一下，谢谢老师。
