New answers tagged wc
-L prints the length of the longest line. Your line must be 198 characters long. The two missing bytes are end of line and end of file characters.
ls / has been rendered by your terminal, But When you pipe it to wc command, terminal doesn't exists.
As POSIX define, ls will output one entry per line if output is not a terminal, or one of -C, -m, -x was used. When output is terminal, the output format is implementation-defined. OSX ls and FreeBSD ls use -1 as default option when output is not to a terminal
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