ONE Select the most correct answer. [10] 1.1 Calculate the amount to be included in Gross Income based on the total of the following: Local Dividend received R 50 000 Annuity R 20 000 Salary R 100 000 Restraint of trade payment R 30 000 A. R 170 000 B. R 150 000 C. R 120 000 D. R 200 000 1.2 Mr X sells a textbook for R500. If the customer returns the book when they are finished the course they receive a R50 refund. What amount should be included in Gross Income of Mr X upon Sale? A. RO B. R500 C. R50 D. R450 1.3 When is the financial year end for a natural person? A. None of the Above B. 30 June C. 31 December D. 1 January 1.4 Which one of the following is not a direct tax? A. Donations Tax B. Normal Tax C. Value Added Tax D. Estate Duty 1.5 An amount of R65 000 was received by person H in respect of termination of employment. Under which paragraph will the amount be included in Gross Income (if at all)? A. No inclusion - capital in nature B. para e C. para f D. para d