Q19. The value of free cash flow is usually:

a. the same as the value of net income.

b. the same as the value of sales

c. affected by non-cash expenditures

d. less than the value of net income

e. not affected by the tax rate

Q20. In international finance, as the rate of inflation in the local country increases:

a. The value of local currency appreciates.

b. The value of local currency remains the same.

c. The value of local currency is independent of the rate of inflation.

d. The value of local currency depreciates.

e. demand for foreign currency decrease.