Hi John
If you purchase an Audio CD and do a straight copy to another CD using CD burning software, then the original file format and quality is kept on the resulting CD
If you rip a CD to your PC, then you will need to select a file format like WMA, MP3, FLAC . . etc
The file type and bit rate you choose will determine the quality of the ripped tracks and the file size
FLAC is a lossless format, so that would be the same quality as the original CD
If say your ripped the original CD to MP3 or WMA, then some quality will be lost, and there is no point in converting to FLAC, because the quality is already lost
There are a few variables to consider, as stated above tracks on a CD are at 44100 Hz
if you convert to any format with a lower bitrate, quality is lost
If quality is lost, you can convert to another format like FLAC, that will create a bigger file, but not increase the quality