PROBLEMS 1. Explain the difference between real assets and financial assets. 2. Describe the three key cash-related activities of a firm. 3. Explain how the cash flow cycle works. 4. Describe how financial management is related to accounting. 5. How do sole proprietorships, general partnerships, limited liability companies, S corporations, and C corporations differ? 6. Suppose three optometrists wished to form a business that was expected to last until the oldest one was about to retire. The three had known each other since college and were close friends who trusted one another. What type of firm might be appropriate? 7. What is the primary goal of an enterprise? 8. What are the two key drivers of value