IDT manufactures clothes for the mass market. It is a multinational company with factories in 4 countries. IDT has short-term and long-term financial needs. The Finance Director is analysing IDT's statement of financial position. An extract is shown in Table 3.1. He has been asked to calculate working capital and to explain how an increase in non-current liabilities might affect IDT. Table 3.1 Extract from IDT's statement of financial position ($ million) 2022 2023 Current assets 380 420 Current liabilities 250 280 Non-current liabilities 300 400

1. (a)Define 'mass market'.[2]
2. (b)Calculate IDT's working capital in 2023. Working: Final answer:[2]
3. (c)Outline one reason why IDT might need the following types of finance: Short-term finance: Long-term finance:[4]
4. (d)Explain two ways an increase in non-current liabilities might affect IDT. Way 1: Explanation: Way 2: Explanation:[6]
5. (e)Explain two advantages to a business of being a multinational company. Which advantage do you think is likely to be the most important? Justify your answer.[6]