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
Summary FAC2601 ANSWERS For Assignment 1 SEMESTER 1 (2022) Code 842216 (Detailed answers with explanations) R50,00
Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. FAC2601 - Financial Accounting For Companies (FAC2601)

Summary

Summary FAC2601 ANSWERS For Assignment 1 SEMESTER 1 (2022) Code 842216 (Detailed answers with explanations)

2 reviews
 257 views  9 purchases

FAC2601 ANSWERS For Assignment 1 SEMESTER 1 (2022) Code (Detailed answers with explanations).

Last document update: 1 year ago

Preview 2 out of 9  pages

Document information

  • August 10, 2022
  • February 2, 2023
  • 9
  • 2022/2023
  • Summary

Subjects

Written for

All documents for this subject (69)

2  reviews

review-writer-avatar

By: reneilwemaepa • 2 year ago

review-writer-avatar

By: Makhurupetji • 2 year ago

Seller

avatar-seller
BcomStudyPacks

Reviews received

Content preview

FAC2601
ASSIGNMENT 1
SOLUTIONS
SEMESTER 2
UNIQUE NUMBER:
174957
ANSWERS

2022

, Stuvia.com -Stuvia.com
The Marketplace
- The study-notes
to Buy and marketplace
Sell your Study Material




Fac2601

Assignment 1

Due date: 10 August 2022



Question 1

Which one of the following statements is incorrect?
1. Inconsistencies in the measurement of financial statements can have an effect on
whether financial statements can provide faithful representation.
2. In order to select a measurement basis the nature of the information in both the
statement of financial position and the statement of financial performance must
be considered.
3. Relevance of information provided by a measurement basis is affected by the
characteristics of the asset or the liability and contribution to future cash flows.
4. A legal entity is an example of a Reporting Entity.
THE ANSWER IS 4
Question 2
When payment to purchase property, plant and equipment item is deferred for six
months, the cash price equivalent of the asset will be calculated as the total amount
payable reduced by interest for the whole six months. In this manner the asset is
recorded at its?


1. Historical cost
2. Value in use
3. Current cost
4. Fair value
THE ANSWER IS 3


Question 3


The purpose of an Integrated Report Framework is to establish guiding principles and
content elements that govern the overall content of an integrated report and to explain
the fundamental concepts that underpin them.
Which one of the following is NOT a purpose of the framework for integrated reporting?


1. Specify the information required to help stakeholders assess the value creation of
an organisation.
2. Specify benchmark of information
3. Recognise the key uniqueness of different organisations



Downloaded
Downloaded
by: excelacademics22
by: Masters | mpktjale@gmail.com
| ricus8879@gmail.com
Distribution of this document is illegal

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 EFT, 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 this summary from?

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

Will I be stuck with a subscription?

No, you only buy this summary for R50,00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

50843 documents were sold in the last 30 days

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

Start selling
R50,00  9x  sold
  • (2)
Add to cart
Added