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QUESTION SEVEN (a) You are examining the financial statements of the Geelong Football Club (GFC). According to the Income Statement of GFC it made a

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QUESTION SEVEN (a) You are examining the financial statements of the Geelong Football Club (GFC). According to the Income Statement of GFC it made a loss while the Statement of Cash Flows of GFC shows a positive cash flow for the year. Explain how this could happen and support your discussion with suitable examples. (4 marks) (b) Provide an example of short-term finance, long-term finance and equity finance and briefly explain how GFC could use these to fund the organisations business operations. (4 marks) (8 marks)

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