Why is the net present value (NPV) method of investment appraisal considered to be theoretically superior to other methods that are found in practice?

Why is the net present value (NPV) method of investment appraisal considered to be theoretically

 

superior to other methods that are found in practice?

The payback method has been criticised for not taking the time value of money into account.

Could this limitation be overcome? If so, would this method then be preferable to the NPV method?

Research indicates that the IRR method is extremely popular even though it has shortcomings

when compared to the NPV method. Why might managers prefer to use IRR rather than NPV

when carrying out discounted cash flow evaluations?

Why are cash flows rather than profit flows used in the IRR, NPV and PP methods of investment

appraisal?

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erive the differential equations in terms of the liquid heights h1 and h2.

  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….

Derive the differential equation relating the liquid height h and the volume flow rate qi at the inlet.

  Consider the single-tank liquid-level system shown in Figure 7.19, where the volume flow rate into the tank through a pipe is qi. The liquid leaves the tank through an orifice….

Derive the differential equations in terms of the liquid heights h1 and h2.

Figure 7.20 shows a hydraulic system of two interconnected tanks that have the same cross-sectional area of A. A pump is connected to tank 1. Assume that the relationship between the….