CPW is a private sector business which has many objectives. It sells electrical goods including kettles and ovens in its 36 shops in country X. CPW also offers a delivery service. The business buys all its inventory from local suppliers to avoid import tariffs. The Finance Director is analysing CPW's statement of financial position. An extract is shown in Table 2.1. He has been asked to find a source of finance to purchase 10 new delivery vehicles. Table 2.1 Extract from CPW's statement of financial position for 2024 ($ million) Non-current assets 120 Current assets 70 Current liabilities 110 Non-current liabilities 75

1. (a)Define 'import tariff'.[2]
2. (b)Identify one non-current asset and one current liability. Non-current asset: Current liability:[2]
3. (c)Outline two ways the information in Table 2.1 might be useful to CPW. Way 1: Way 2:[4]
4. (d)Explain two factors CPW should consider when deciding on a source of finance for the new vehicles. Factor 1: Explanation: Factor 2: Explanation:[6]
5. (e)Explain two objectives a private sector business might have. Which objective is likely to be the most important? Justify your answer.[6]