What is the correct answer?

Accounting statements represent a company's earnings, but this is not the real cash that a company generates. on the free cash flow that a firm generates to analyze the company's real cash position. Which of the following statements best describes free cash flow? The cash flow available for distribution to all investors after the company has made all investments in fixed assets and working capital necessary to sustain a firm's ongoing operations O The excess cash generated by revenues less all operating expenses