Discounted cash flow techniques score above the accounting and non$-$discounted cash flow techniques. The DCF techniques suffer from the very limitations of the mathematical formula used for operating the formula for discounting.

Discuss:

$($a$)$ Advantages of cashflow technique over the accounting techniques.

$($b$)$ Advantages of DCF techniques over the non$-$DCF techniques.

$($c$)$ Discuss which DCF technique$($s$)$ is$($are$)$ better in case of an accept$-$reject $($no mutually exclusive project$)$ situation.