1. given that sales are R 1000 000, cost of sales is 15% of sales. cost of sales is R150 000 and gross profit would be 1050 000. true/false

2. bank over draft R55 000, creditors control R230 000, p0rtion of loan to be paid next month R50 000 and mortgage bond R300 000. the current liability is ?

3. bank over draft R55 000, creditors control R230 000, p0rtion of loan to be paid next month R50 000 and mortgage bond R300 000. the current liabil:?

4. equity equals to:

A. Total Liability plus current assets

B. Current assets plus non-current assets less total liabilities

C. Capital plus drawings.

D. Total assets less total liabilities