Part I 350
Cash flow is the life blood for any successful business and being able to accurately estimate cash inflows and outflows is an important function of management. What happens if a firm’s cash outflows exceed its cash inflows? What are some reasons that might account for the cash outflows exceeding cash inflows?
Part II 250
Like-kind exchange is better than an exchange that is not like-kind for tax purposes. Explain situations why a taxpayer may not want to have like-kind exchanges.