Which One of the Following Statements About the Free Cash

Which one of the following statements about the free cash flow from the company (FCFC) approach is NOT true?

A) The present value of these cash flows exceeds the total value of the company, or its enterprise value.
B) We do not include the cash necessary to pay short-term liabilities that do not have interest charges associated with them, such as accounts payable and accrued expenses.
C) The costs associated with non-interest-bearing current liabilities, which are included in the company's cost of sales and other operating expenses, are subtracted in the calculation of FCFC.
D) the total value of the company, V_F, is calculated as the present value of the FCFC, discounted by the company's WACC.