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
Mancosa intro to financial accounting kcq 1 answers $2.80
Add to cart
Quickly navigate to
Preview
  2.  
  3. Management College Of Southern Africa (MANCOSA)
  4.  
  5. Introduction to financial accounting

Exam (elaborations)

Mancosa intro to financial accounting kcq 1 answers
 0 purchase
  • Course
  • Introduction to financial accounting
  • Institution
  • Management College Of Southern Africa (MANCOSA)

This documents consists of 20 Questions and answers on multiple choice questions on introduction to financial accounting kcq 1 and will assist you in your understanding of basic accounting concepts Please leave a review

Preview 2 out of 5  pages

Document information

  • January 25, 2024
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • answers to kcq 1 intro to fin acc

Written for

  • Management College of Southern Africa (MANCOSA)
  • Introduction to financial accounting
All documents for this subject (20)

Seller

avatar-seller
BookSquad

Reviews received

Content preview

Introduction to financial accounting KCQ 1


20 Questions and answers

Please leave a review on Stuvia. I would love to hear from you!

1. The three main forms of business ownerships in South Africa are:


 Public Company ,private company, and government owned company
 Partnership , limited liability company and sole trader
 Sole trader, partnership and private company
 Sole trader ,partnership and company


2. Manitoba invested R450 000 into a shoe making business. His brother
lends him 285 000 of the total investment. His contribution in the
investment is R65 000, while the bank provided

 R100 000
 R85 000
 R115 000
 R165 000

, 3.Which of the following is categorized as a liability
 Capital
 Debenture
 Property
 Office equipment


3. Malibongwe invests R500 000 in CoffeeLite, a coffee shop business.
Examining the statement of changes of CoffeeLite means

 Calculating Malibongwe’s profit in cofeelite
 Calculating the value of Malibongwe’s asset
 Examining the management skill of Malibongwe in CoffeeLite
 Examining Malibongwe’s interest in CoffeeLite

4. Adjustment is a transaction that involves 2 parties
 True
 False

5. Stationeries is one of the items deducted from the gross profit to
determine the net profit on the statement of financial position.
 True
 False

6. Short- term loan is a component of the ……………… in the financial
position statement
 Current asset
 Equity
 Current liabilities
 Non-current liabilities

7. Nadini , a student at the School of business studies was required to
provide information on the financial transactions of Hugo Limited as at
31 December , 2021. This information can be regarded as a form of
……………
 Financial accounting
 Management accounting
 Financial management
 Sustainability accounting

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 BookSquad. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $2.80. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69411 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$2.80
  • (0)
Add to cart
Added