medium · Investment Banking

A company recognizes $100.0 million in Deferred Revenue on its balance sheet from a cash payment received in the prior year. In the current year, it 'earns' this revenue.

How does this impact the current year's EBITDA and Cash Flow from Operations (CFO)?

  1. EBITDA is unaffected; CFO increases
  2. Both EBITDA and CFO are unaffected
  3. EBITDA increases; CFO is unaffected
  4. Both EBITDA and CFO increase

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