Single choice 47) The financial statements show that sales for the period were CU4,000 and cost of sales were CU2,400. In addition, you are also presented with the following data. CU'000 CUOOO Non-current assets Tangible non-current assets 2,100 Current assets Inventory Trade receivables Cash 800 400 100 1,300 Current liabilities Trade payables Long term liabilities (700) (1,250) 1,450 Share capital Retained earnings 100 1,350 1,450 Calculate payable days (note that no averaging is required as prior year data is not available). 64 days O 106 days 160 days 365 days Single choice 48) What format approach is being used for the Statement of profit or loss when costs are allocated between selling, general and administration? Costs allocated by function Costs allocated by nature Costs allocated between current and non-current Costs allocated by location