Fac1502 exam - Study guides, Class notes & Summaries
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FAC1502 EXAM PACK 2025 {DETAILED QUESTIONS AND ANSWERS }
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FAC1502 EXAM PACK 2025 
{DETAILED QUESTIONS AND ANSWERS }
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FAC1502 Exam pack 2024(Financial Accounting Principles Concepts and Procedures)
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FAC1502 Exam pack 2024(Financial Accounting Principles Concepts and Procedures) 
 
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FAC1501 EXAM PACK 2022_Fac1502 Exam Pack
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Fac1502 Exam Pack
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FAC1502 EXAM assignment 4 2024 | Due 29 October 2024
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FAC1502 EXAM assignment 4 2024 | Due 29 
October 2024 
s 
1. What is the primary purpose of financial accounting? 
• A) To assist management in decision-making 
• B) To provide information for internal users only 
• C) To prepare financial statements for external users 
• D) To ensure compliance with tax regulations 
Rationale: Financial accounting is primarily aimed at providing financial information 
through statements for external users such as investors, creditors, and regulators. ...
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023)
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Financial Accounting Principles Concepts and Procedures(FAC1502 Exam pack 2023) 
 
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FAC1502 EXAM PACK FINANCIAL ACCOUNTING PRINCIPLES CONCEPTS PROCEDURES
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FAC1502 EXAM PACK FINANCIAL ACCOUNTING PRINCIPLES CONCEPTS PROCEDURES 
N & N ENTERPRISES 
STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022 
Revenue 500 000 
Cost of Sales (362 800) 
Opening Inventory 100 000 
Purchases (283 000 + 39 000 – 5 000) 317 000 
Freight charges on purchases 5 000 
Shipping Fees 2 800 
Import duties 3 300 
Delivery Fees 4 100 
Modification Costs 2 600 
Closing Inventory (72 000) 
Gross Profit 137 200 
Other Income 2 860 
Int...
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FAC1502 EXAM PACK WITH ANSWERS/SOLUTIONS
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EXAM QUESTION WITH ANSWERS (PRACTICE QUESTIONS) FAC1502
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FAC1502 EXAM PACK 2023
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FAC1502 EXAM PACK 2023
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FAC1502 EXAM PACK 2023
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FAC1502 EXAM PACK 2023
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FAC1502 EXAM PACK 2022
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FAC1502 EXAM PACK 2023
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