You need to rip into one of two scenarios:
1) copy tracks (compressed or uncompressed). This copies each track as a separate file. In formats that support meta data (album, artists, genre, etc) the metadata is included in each track. WAV does not support metadata per se (without plug-ins), but you are using FLAC and all is good.
OR
2) copy image and create cue sheet. This copies the album as ONE WHOLE file (AbbeyRoad.flac), and since there is nothing to tell the player (iTunes, Foobar, etc.) when one song ends and another begins, it needs a table of contents....the cue file. Without the cue file the album would play as one song and no metadata would be included.
The upside of ripping to option 2 (copy image and cue) is that you have 10x less files to deal with. The downsides, however, are numerous. Cue sheet support is spotty in many players; non-existent in most. With large album files it becomes more difficult to create compilation discs than with separate song files. Cue sheets can sometimes be incorrect and/or be read differently by different players. It's more work if you want to rip only a few songs of an album.....
I went with cue sheet/large files for years; then about 8 months ago I converted everything to single files and have never looked back.