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A trader provided the following data:
| Item | Jan 1 ($) | Dec 31 ($) |
|---|---|---|
| Bank (Debit) | 4,240 | 6,320 |
| Cash balance | 264 | 271 |
During the year: Cheques issued were $19,950. All sales takings were banked except for $5,400 used for drawings and $7,200 for wages. Additionally, $3,000 was banked from the sale of a motor vehicle. Calculate total sales.
1. Cash banked from sales = Closing Bank ($6,320) + Cheques issued ($19,950) - Opening Bank ($4,240) - Sale of Asset ($3,000) = $19,030.
2. Total Sales = Banked Sales ($19,030) + Cash Drawings ($5,400) + Cash Wages ($7,200) + (Closing Cash $271 - Opening Cash $264) = $19,030 + $5,400 + $7,200 + $7 = $31,637.
The Social Responsibility Theory emerged as a critique of pure Libertarianism. It accepts that the press should be free, but argues that freedom without responsibility is dangerous. Its core features:
- Media has obligations to society — it must be truthful, accurate, objective, and balanced
- The press should be free but self-regulated through codes of conduct and ethics (not government censorship)
- Media should be pluralistic — representing diversity of viewpoints and acting as a forum for ideas
- Media ownership is a public trust — journalists are accountable to their audience
This theory recognises media's unique social function: unlike a bakery or factory, media shapes public opinion, educates citizens, and acts as the “fourth pillar of democracy.” Therefore, it must accept a higher standard of responsibility than an ordinary business enterprise.
In a certain shop, notebooks that normally sell for 59 cents each are on sale at 2 for 99 cents. How much can be saved by purchasing 10 of these notebooks at the sale price?
Normal price for 10 notebooks: $10 \times 59\text{¢} = 590\text{¢} = \$5.90$
Sale: 2 notebooks for 99¢, so 10 notebooks cost $5 \times 99\text{¢} = 495\text{¢} = \$4.95$
Savings $= \$5.90 - \$4.95 = \$0.95$
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