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Mac1501 Assignment 4 semester 2 2023
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Mac1501 Assignment 4 semester 2 2023 The document contains Assignment 4 questions together with its answers Distinction guaranteed
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9/27/23, 9:10 PM Assessment 4: Attempt reviewUNISA 2023 MAC1501-23-S2 Welcome Message Assessment 4
QUIZ
Started on Wednesday, 27 September 2023, 10:06 PM
State Finished
Completed on Wednesday, 27 September 2023, 10:10 PM
Time taken 1 hour 3 mins
Marks 49.00/40.00
Grade 98.50 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
The production budget is typically prepared prior to the sales budget.
True
False
Question 2
Correct
Mark 1.00 out of 1.00
The general ledger accounts with credit balances that are reported in the Statement
of Financial Position re ect the nancing decision of the company.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
The nancial manager is directly responsible for the management and control of
inventory.
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13759690&cmid=624511 1/9
,9/27/23, 9:10 PM Assessment 4: Attempt review
Question 4
Incorrect
Mark 0.00 out of 1.00
Leave pay and holiday pay are additional monetary entitlement of employees.
True
False
Question 5
Incorrect
Mark 0.00 out of 1.00
The ow of xed overheads costs is through the Work-in-Progress Account, the
Inventory and the Finished Goods Account and the Cost of Sales Account.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
PAYE deducted from the remuneration of employees must be paid to SARS by the
7th of the month following the month for which the payroll was prepared
True
False
Question 7
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options
provided:
The balance of asset accounts is increased by debit entries and
decreased by credit entries.
The balance of liabilities accounts is increased by credit entries and
decreased by debit entries
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13759690&cmid=624511 2/9
,9/27/23, 9:10 PM Assessment 4: Attempt review
Question 8
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by choosing the correct answer from the options
provided:
Risk is the probability that the actual outcome of an event will
be different from the expected outcome.
The inventory management strategy where inventory is ordered and delivered
based on sales or production forecast is known as
Economic Order Quantity (EOQ) .
Question 9
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options
provided:
In a process costing system , costs ow from one work-in-progress
account to the next and to nished goods from only the last departmental work-
in-progress account.
The inventory turnover ratio measures the speed at which
inventories are turned into debtors.
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, 9/27/23, 9:10 PM Assessment 4: Attempt review
Question 10
Correct
Mark 2.00 out of 2.00
Complete the following statements by dragging and dropping the correct answer
from the options provided:
Total ordering costs is determined as number of orders placed
x xed cost per order
Total holding cost is determined as average number of units in inventory x
holding cost per unit
holding cost per unit
average number of units in inventory
average number of units in inventory
holding cost per unit
number of orders placed
xed cost per order
number of orders placed xed cost per order
Question 11
Correct
Mark 2.00 out of 2.00
In the quest for wealth creation, the nancial manager will face various important
decisions. Select the appropriate decision that matches the following description:
Weighing up the different investment options and Investment decision
selecting an investment.
Paying out pro ts as dividends or retaining them for Dividend decision
investment
Deciding how to nance the chosen investment – with Finance decision
own funds or with debt
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