capital rationing Q4 (b) Dec 2012

I cannot simply explain every part of the examiners answer!
I have already explained two parts to you.

Have you watched all of our free lectures (and if necessary our F9 lectures also)?

Because everything is explained in our lectures and there is not much point in looking at past exam questions unless you have already studied first – either by watching our lectures or by using a Study Text from one of the ACCA approved publishers.