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Mancosa introduction to financial accounting kcq2 questions
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Introduction to financial accounting KCQ210 Questions and answers
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1.Some items that can be identified as components of the financial
position consists of the following except
Cost of sales
Mortgage
Trade Receivables
Retained earnings
2. Mrs Masondo , the owner of Masinovations , invested some funds
to start the business. She contributed R138 750 , borrowed
R200 000 from the bank and R11 250 from a local loan shark. What is
the value that will attract interest?
R211 250
R350 000
R338 750
R337 750
3. Which of the following combination are (is) not true from the
statement below : i.A one-man business is a limited liability
company ii.Difference between assets and liabilities give rise to
what is owned by the business iii.Investment is recorded on the
equity side of the statement of financial position. ivElectricity paid is
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