Other
Fac1601 assignment %
- Institution
- University Of South Africa (Unisa)
Financial accounting and reporting assignment 1 marks obtained 100%.trusted️
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
3/18/23, 11:21 AM Assessment 1: Attempt reviewMENU
Dashboard / My courses / FAC1601-23-S1 / Welcome Message / Assessment 1
Started on Saturday, 18 March 2023, 9:19 AM
State Finished
Completed on Saturday, 18 March 2023, 11:19 AM
Time taken 1 hour 59 mins
Marks 30.00/30.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which of the following statements is correct:
1. A liability is a future obligation of a reporting entity to transfer an economic resource as a result of a past event.
2. The accounting equation is: Liabilities + Assets = equity
3. The value of a reporting entity lies in the net assets (assets minus liabilities) under its control.
4. Equity is the residual interest in the assets of the entity after deducting all the expenses.
Your answer is correct.
The correct answer is:
The value of a reporting entity lies in the net assets (assets minus liabilities) under its control.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=7763339&cmid=648135 1/18
The benefits of buying summaries with Stuvia:
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
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
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 machuenefraphadu. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R109,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now