There are four main classes of debentures. Which not form part of the main classes? (a) Mortgage debentures (b) Naked or simple debentures (c) Floating debentures (d) Redeemable debentures Which of the following does not form part of the ch close corporation? (a) The name of the association must be followe CC as well as its registration number. (b) The term capital does not appear in the Act; the term financial interest. (c) In the formation of the CC, each member's C be in cash, in property corporeal or incorpor value of services rendered. (d) The shares, shareholders or directors In terms of section 58 (2) (c), the annual financial statements have to disclose separately the aggregate amounts of the following: (a) Contributions by members (b) Undrawn profits (c) Revaluation of non-current assets (d) All of the above 10. The disadvantages of invoicing goods to branches at selling prices include which of the following: (a) Even where many lines are dealt in, the method will be helpful as a check, although not so close as in the first point. (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) As the inventory (at selling price) is known at any time, interim accounts can be prepared without the need for approximating inventory. (d) The branch manager need not be informed of the cost price. 6. The following current liability should be disclosed on the face of the balance sheet (a) Current portion of interest-bearing borrowings (b) Mortgage bond (c) Property, plant and equipment (d) Trade receivables 7. Which of the following form part of income: (a) Profit on sale of property, plant and equipment (b) Amortisation charge for the period on intangible assets (c) Fees paid to third parties for consultancy or technical services (d) Lease rentals in respect of operating leases for movable and immovable property 8. Distributable reserves consist of which of the following: (a) Capital Redemption Reserve Fund (b) Surplus on revaluation of non-current assets (c) Accumulated profits or retained income (d) Pre-incorporation profits