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LML 4804 Assignment 2 semester 2 2022
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LML 4804 Assignment 2 semester 2 2022 questions and solutions
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LML 4801ASSIGNMENT 2 SEMESTER 2 2022
Use this document as a guide to learn, compare and reference
, Started on Wednesday, 31 August 2022, 4:45 PM
State Finished
Completed on Wednesday, 31 August 2022, 5:07 PM
Time taken 22 mins 10 secs
Marks 15.00/15.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Paul is the sole proprietor of a butchery.
Consider the following statements:
i Paul pays R500 to have a broken freezer repaired.
ii Although the old ventilation system in the butchery was still working and complied with health regulations, Paul installed a new
ventilation system amounting to R30 000.
iii Paul anticipates that he will incur business-related expenses in his business in the coming years. He puts R30 000 in a reserve fund to
make provision for these future expenditures.
iv Paul pays a monthly levy of R500 to the local municipality for solid waste removal.
Which of the above expenses, incurred in the 2021/2022 year of assessment, may be deducted from Paul’s income?
a. iii only
b. Only i and iv
c. Only i and iii
d. only ii
1/8
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