Which of the following is the best explanation of why depreciation is added back to operating profit while calculating the cash flow from operations?

(a) Depreciation is a subjective amount in the profit calculation, and so must be taken out to leave only objective measures.

(b) Depreciation is an expense in the profit calculation but does not involve a flow of cash, and so must be taken out of the profit calculation.

(c) Depreciation must be removed from the income statement (profit and loss account) because it belongs to the relevant asset in the capital expenditure section.

(d) Depreciation has been reported once in the income statement (profit and loss account); there is no need to report it a second time in the income statement (profit and loss account).