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Mancosa Financial Reporting and Analysis KCQ 1 and 2 $2.81
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Exam (elaborations)

Mancosa Financial Reporting and Analysis KCQ 1 and 2

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  • Course
  • Financial Reporting and Analysis
  • Institution
  • Management College Of Southern Africa (MANCOSA)

These are past kcq 1 and 2 questions and answers and they are 20 Questions in total with 10 questions each on kcq 1 and kcq 2. They will help you prepare for your kcqs and osa

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  • December 17, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • past questions and answers

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  • Management College of Southern Africa (MANCOSA)
  • Financial Reporting and Analysis
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Financial Reporting and Analysis KCQ 1 and 2

20 Questions and Answers in total ( 10 Questions of KCQ 1 and 10 Questions of KCQ2)

These are past questions that will help you in your preparation for KCQ and OSA




GH Traders wrote off R1 750 which represented 20% of the amount owed by a debtor.The debtor
setted the balance on her account by means of an electronic funds transfer. These transactions have
not yet been recorded .Which of the following is correct about the above transactions



 The amount received from the debtor was R1 400
 The Debtors Control account will decrease by R7 000
 The debtor owed R8 750
 The Bank account will be credited with R7 000

Calculations

Let X be the total amount owed by the debtor before the write-off.
We know that the written-off amount is R1750, which represents 20% of X. So, we can
set up the equation:

0.20X = R1750
Now, you need to solve for X:
X = R.20
X = R8750
So, the debtor originally owed R8750 before the write-off.

, Please ignore the answer selected in the options provided ( the one with the black dot
filled in). The only correct answer is the one highlighted at the bottom

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