The following data were included in a recent annual report of YUM, a wholesaler of grocery products.
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(a) Why is a companys net income typically less than its net cash ï¬ow from operating activities?
(b) Why do most companies, including YUM, typically have negative cash ï¬ows from investing activities?
(c) Over the three-year period, what type of activities was the largest source of funds for YUM? Do business executives want these activities to be their ï¬rms principal source of funds? Explain.
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