Final answer:
ROCE is not independent of financing as it includes components of financing in the calculation. It is influenced by changes in a company's capital structure.
Step-by-step explanation:
The statement that ROCE measures operating performance independent of financing is False. Return on Capital Employed (ROCE) is a financial ratio that compares earnings before interest and tax (EBIT) to capital employed to provide a snapshot of a company's profitability and efficiency in using its capital. However, since capital employed includes elements of financing such as debt, ROCE is not completely independent of financing and can be influenced by changes in the company's capital structure.