(a)[3]
State three ways in which a statement of cash flows differs from a cash budget.
(b)[9]
Prepare a statement reconciling profit from operations with cash from operations for the year ended 31 December 2019.
(c)[7]
Prepare a statement of cash flows for the year ended 31 December 2019, starting your answer with cash from operations from (b).
(d)[2]
Discuss the effect on cash flow of a rise in general reserve during the year.
(e)[4]
Discuss whether the directors were correct to repay part of the bank loan during the year ended 31 December 2019. Justify your answer.