100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
FAC1503 Assignment 03 A Questions & Answers $4.27   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. FAC1503 - Financial Accounting Principles For Law Practitioners (FAC1503)

Other

FAC1503 Assignment 03 A Questions & Answers
 13 views  0 purchase
  • Course
  • FAC1503 - Financial Accounting Principles For Law Practitioners (FAC1503)
  • Institution
  • University Of South Africa (Unisa)

This document contains the questions and answers about assignment 03 A for financial Accounting for law practitioners, FAC1503. The document also includes feedback that refers you to where in the study guide the information is.

Preview 1 out of 9  pages

Document information

  • October 17, 2022
  • 9
  • 2022/2023
  • Other
  • Unknown

Subjects

  • accounting
  • fac1503
  • questions
  • answers
  • financial accounting
  • assignment

Written for

  • University of South Africa (Unisa)
  • FAC1503 - Financial Accounting Principles For Law Practitioners (FAC1503)
All documents for this subject (92)

Seller

avatar-seller
cayliruthven

Content preview

FAC1503 ASS03 Q AND A


The assets and liabilities are divided into two categories being non-current and current.

• True
Feedback
Refer to learning unit 5.12
The correct answer is 'True'.


Q2.
The fifth step in the accounting cycle refers to the recording of transactions into the
books of prime entry.

• False
Feedback
Refer learning unit 4.1
The correct answer is 'False'.

Q3.
The general ledger consists of all the accounts of the business in the form of a T–
account.

• True
Feedback
Refer to learning unit 5.5
The correct answer is 'True'.

Q4.
An amount of R370 appears on the business bank statement for interest received on the
favourable bank balance of SA Attorneys. In which book of original entry will it be
recorded?

• Business cash receipts journal
Feedback
Refer to learning unit 4.4 and learning unit 4.5
The correct answer is: Business cash receipts journal




Q5.
The business bank account statement must contain a reference to the fact that it is an
account opened and maintained in terms of section 86(2) of the LPA.

• False
Feedback
Refer learning unit 4.4
The correct answer is 'False'.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller cayliruthven. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $4.27. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67474 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$4.27
  • (0)
  Add to cart