What is Bernoulli's equation and what are its assumptions?

Bernoulli's equation states that for steady, incompressible, inviscid flow along a streamline: P/rho + v^2/2 + gz = constant, representing pressure energy, kinetic energy, and potential energy per unit mass. Assumptions: steady flow, incompressible fluid, no friction (inviscid), flow along a streamline, and no energy added or removed. For real pipe flow, modified forms include friction losses (Darcy-Weisbach) and pump work terms.