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FAC2601 ASSIGNMENT 5 SEMESTER 2 2024 MULTIPLE CHOICE QUESTION ASSIGNMENT Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Use the following infor$2.92
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FAC2601 ASSIGNMENT 5 SEMESTER 2 2024 MULTIPLE CHOICE QUESTION ASSIGNMENT Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for each question answered. Use the following infor
FAC2601 ASSIGNMENT 5 SEMESTER 2 2024
MULTIPLE CHOICE QUESTION ASSIGNMENT
Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for
each question answered.
Use the following information to answer questions 1 and 2:
M...
Answer the following multiple-choice questions. Indicate your choice by selecting only one option from the four options given for
each question answered.
Use the following information to answer questions 1 and 2:
Mould Ltd sold goods to a customer for a total consideration of R181 500, payable 24 months after delivery. The customer obtained
control of the products on delivery. The cash selling price of the goods amounted to R150 000 and represents the amount that the
customer would pay upon delivery instead of over 24 months.
Mould Ltd will recognise:
REQUIRED:
Question 1
Which one of the following statements is correct based on the information provided above?
1. Revenue is recognized at an amount of R181 500 after 24 months
2. Revenue is recognized at an amount of R181 500 on delivery
3. Revenue is recognized at an amount of R150 000 after 24 months
4. Revenue is recognized at an amount of R150 000 on delivery
, Question 2
Not yet answered
Marked out of 2.00
Dashboard Calendar
Use the following information to answer questions 2:
Dashboard / My courses / FAC2601-24-S2 / Welcome Message / Assessment 5 - MCQ - 6 November 2024 (18:00 - 21:00)
Mould Ltd sold goods to a customer for a total consideration of R181 500, payable 24 months after delivery. The customer obtained
control of the products on delivery. The cash selling price of the goods amounted to R150 000 and represents the amount that the
customer would pay upon delivery instead of over 24 months.
Mould Ltd will recognise:
QUESTION 2:
Trades and other receivables will be reflected at an amount of?
1. R150 000 at the inception of the contract;
2. R150 000 after 24 months.
3.
R181 500 at the inception of the contract;
4. R31 500 at the inception of the contract;
Question 3
Not yet answered
Marked out of 2.00
Use the following information to answer question 3 and 4:
Trackers Ltd has a revenue policy intact that allow their customers to receive a 5% discount on goods sold, when those customers
purchase more than 1 250 cool bags per year.
On1 June 2023 a regular customer already purchased 750 cool bags at R150 per cool bag. Trackers Ltd expects that this customer will
purchase more than 1 250 cool bags during the year. The financial year end of Trackers Ltd is 28 February 2024.
REQUIRED:
QUESTION 3:
Which one of the following is the correct amount at which the revenue must be recognised on 1 June 2023?
1. R106 875;
2. R5 625;
3. R112 500;
4. R178 125;
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