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1 9 . Multiple are calculated using enterprise value or equity value in the numerator. Which of the following is not a proper definition of

19. Multiple are calculated using enterprise value or equity value in the numerator. Which of the following is not a proper definition of enterprise value?
a. Equity plus debt minus cash
b. Operating assets less operating liabilities
c. Equity minus debt plus cash
d. The value of a company's operations

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