The Bottom-Up Approach to Computing the Operating Cash Flow of a Project

Multiple Choice

The bottom-up approach to computing the operating cash flow of a project applies only when

A) both the depreciation expense and the interest expense are equal to zero.
B) the project is a cost-cutting project.
C) the interest expense is equal to zero.
D) no fixed assets are required for the project.
E) taxes are ignored and the interest expense is equal to zero.