Which Type of Business Entity Is Likely to Experience a Value

Which type of business entity is likely to experience a value closest to 1 for their ratio of cash flow from operations to operating income?

A) An entity enjoying growing market demand for their product,investing in new equipment depreciated by an accelerated method.
B) An ageing entity with shrinking markets,and little R&D spending or new investment.
C) An entity with growing markets that sees it receivables,inventories and payables increase significantly year on year.
D) All three types of business entities.