Calculate:
(a) Capital owned
(b) Working capital
(c) Current liabilities
(d) Fixed capital
(e) Capital employed. 

Outline two functions of each of the following.

(a) Trade Association

(b) Consumer Association

(c) Customs Authority

(d) Manufacturer's Association

(e) Chamber of Commerce. 
 

(a)What is a contract?

(b) Explain six reasons for which a contract can be terminated.