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Which one of the following is NOT an empirical formula?
Free Cash Flow
Free cash flow is the amount of cash a company generates after accounting for capital expenditures, indicating the financial flexibility of the business.
Operating Activities
Operating activities relate to the core business functions of a company, including production, sales, and distribution, and their impact on the company's cash flow.
Capital Expenditures
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, or equipment.
Investing Activities
Transactions involving the purchase and sale of long-term assets and investments, reflected in a company's cash flow statement.
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