1 What is the immediate impact on cash and on profit of a non-current asset disposal (e.g. equipment), where the asset's selling price is below to its net book value on the date of the sale? A. Increase cash, decrease profit B. Decrease cash, no impact on profit C. Increase cash, increase profit D. Increase cash, no impact on profit E. Decrease cash, decrease profit F. Decrease cash, increase profit QUESTION 2 Below you will find information regarding all sales and purchases of inventories made by Pioneer Ltd during January 2021: On January 4th, Pioneer purchased inventories on credit for 30,000. On January 14th, Pioneer made cash sales of 34,000. On January 19th, Pioneer bought some more inventories for 27,000 and paid for them in cash. On January 27th, Pioneer made a sale on credit for 55,000. On January 31st, the closing inventories in Pioneer's warehouse totalled 18,000. The opening inventories on January 1st totalled 10,000. What is the gross profit or loss made by Pioneer Ltd during January 2021? A. 40,000 gross profit B. 7,000 gross profit C. 4,000 gross profit D. 15,000 gross profit