In terms of section 58 (2) (c), the annual financial statements have to disclose separately the aggregate amounts of the following Select one: a. Contributions by members b. All of the above c. Undrawn profits d. Revaluation of non-current assets The disadvantages of invoicing goods to branches at selling prices include which of the following: Select one: a. As the inventory (at selling price) is known at any time, interim accounts can be prepared without the need for approximating inventory. b. The need for pricing out all the lines at both cost and selling prices although many large firms do not attempt a strictly accurate result and price out by sampling only c. Even where many lines are dealt in, the method will be helpful as a check, although not so close as in the first point. d. The branch manager need not be informed of the cost price. Goodwill is disclosed as a current asset in the consolidated annual financial statements Select one: True False A close corporation is a legal entity of which not more than ten natural persons can be members Select one: True False Arbitrage is the simultaneous buying and selling of the same article in two or more markets Select one: True False The consistency concept is that a company will continue in operation for the foreseeable future Select one: True False