Explanation:

- Understanding Cash Flow Statement Objectives:

- A cash flow statement is instrumental in analyzing a business's cash position and liquidity.

- It plays a critical role in short-term cash planning, ensuring the company can manage its working capital efficiently.

- However, it is not intended primarily for direct comparison of operating performance, which is typically done using other financial statements like the income statement.

- Objective Analysis:

- A) Analysis of cash position: Fundamental goal of the cash flow statement.

- B) Short-term cash planning: Necessary for managing operational cash needs.

- C) Evaluation of liquidity: Helps assess the company's ability to meet immediate obligations.

- D) Comparison of operating performance: This is more related to income or P&L statements.

- Option Analysis:

- Option 1 - Both A and B: Correct but excludes liquidity assessment.

- Option 2 - Both A and C: Correct, but misses short-term planning.

- Option 3 - Both B and D: Incorrect, as D is not a primary objective in cash flows.

- Option 4 - A, B and C: Most comprehensive, covering key aspects of a cash flow statement.

- The correct answer is A, B and C from Option 4.