QUESTION THREE The directors have included a loan to a director of Bravado in cash and cash equivalents f Si million. The loan has no specific repayment date on it but is repayable on demand. The directors feel that there is no problem with this accounting entry as there is a choice f accounting policy within International Financial Reporting Standards (IFRS) and that howing the loan as cash is their choice of accounting policy as there is no IFRS which says that this policy cannot be utilised. Required: Discuss the view of the directors that there is no problem with showing a loan to a director as cash and cash equivalents, taking into account their ethical and other responsibilities as directors of the company. (15 marks) b) Company XYZ is considering using off-balance-sheet financing in order to obtain a e various forms of off 0 For management, compare and contrast the various forms of of-balance- Give your opinion on whether or not Company XYZ should engage in loan from a local bank, but the company is unsure of th balancesheet financing sheet financing. (15 marks) ffbalance-sheet financing. Provide a rationale with your response