Figure 7.18 shows a liquid-level system in which two tanks have cross-sectional areas A1 and A2, respectively. The volume flow rate into tank 1 is qi. A pump is connected to the bottom….
Outline the arguments for and against defining funds as total resources.
1.Outline the arguments for and against defining funds as total resources.2.‘Defining funds as cash is unsatisfactory because the effects of many transactions are ignored.’ Discuss. 3. 4.Your friend has commented as follows: ‘Cash flow data are different from accounting profit data, and so I agree with the AASB requirement that companies prepare a statement of cash flows.’ Evaluate this comment.4.‘The statement of cash flows classifies cash flows into operating, investing and financing, but these classifications are necessarily arbitrary in that not all cash flows are easily recognisable as operating, investing or financing cash flows.’ Discuss. (LO4)