Investment analysts and institutional investors adhere to a "below-line" treatment of capital expenditures. This implies which of the following? Multiple Choice Capital expenditures are subtracted in the calculation of net operating income. O Capital expenditures are subtracted from net operating income to obtain a net cash flow measure. O Capital expenditures are added in the calculation of net operating income. Capital expenditures are added to net operating income to obtain a net cash flow measure.

Investment anaysts and institutional investors adhere to a "below-line" treatment of capital expenditures. This implies which of the following? Multiple Chaice Capital expenditures are subtracted in the calculation of net operating income. Captas expenditures are subtracted from net operating income to obtain a net cash flow measure Capital expenditures are added in the calculation of net operating income. Copital expenditares are added to net operating income to obtain a net cash flow measure