1) The document discusses the derivation of the continuity equation and Euler's equation from principles of conservation of mass and momentum using a control volume approach.
2) It also discusses the derivation of Bernoulli's equation from the conservation of mechanical energy principle for a steady, inviscid flow along a streamline.
3) The key assumptions required for applying Bernoulli's equation are that the flow must be steady, incompressible, frictionless, and occur along a streamline with no shaft work or heat transfer occurring.
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