Exam (elaborations)
FAC1502 ASSIGNMENT 2 SEMESTER 2
- Institution
- University Of South Africa
FAC1502 ASSIGNMENT 2 SEMESTER 2
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WELCOME TO FAC1502FINANCIAL ACCOUNTING 1:
FINANCIAL ACCOUNTING CONCEPTS,
PRINCIPLES AND PROCEDURES
FAC1502 ASSIGNMENT 2 SEMESTER 2
2023
,8/10/23, 8:26 PM Assessment 1: Attempt review Stuvia.com - The study-notes marketplace
MENU
Dashboard / My courses / FAC1502-22-S1
Started on
/ WELCOME Friday, 11
TO FAC1502 March 2022,
FINANCIAL 7:50 PM
ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES
State Finished
/ Assessment 1
Completed on Friday, 11 March 2022, 8:24 PM
Time taken 34 mins 45 secs
Marks 88.00/100.00
Grade 80.00 out of 100.00
Feedback Congratulations, you pass the assessment with a distinction.
Question 1
Correct
Mark 1.00 out of 1.00
What is included in the statement of financial position of a business?
Select one:
A. Capital, sales and assets.
B. Assets, discounts and liabilities.
C. Income, expenses, assets and liabilities.
D. Equity, assets and liabilities.
E. Assets, liabilities, profit on disposal of non-current assets.
Question 2
Correct
Mark 1.00 out of 1.00
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UNISA 2023 FAC1502-23-S2 Welcome Message Assessment 1
QUIZ
Time left 0:43:45
1
Question
An entity has the following income and expenditure for
nancial
the year: Sales: R33 000; Salaries: R11 000; Interest income: R1 000; Insurance
Not yet
expense: R1 500.
answered
Marked out of The net pro t or loss of the entity using the basic accounting equation is …
1.00
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
3. If it is a loss, please enter the amount as a negative (eg: -12141.72)
Answer: 21500
2
Question Please choose the correct option for the given scenario.
Not yet
answered
The statement
Marked out of that best
4.00
describes the to provide usefulnancial information for decision making to a wide range of users
main aim of
accounting is
According to
the accounting
de nition,
accounting
consists of
three activities
which relate identifying, recording, communicating
to transactions.
The three
activities of
accounting are
Financial
information of
an entity is
communicated
a statement ofnancial position, a statement of pro t or loss and other comprehensive income, a statement of changes of equity
owand
state
a cash
to the internal
and external
users by way of
...
The elements
of nancial
assets, liabilities, equity, income, and expenses
statements are
...
3
Question
Bradly Carstens is the owner Carsten & Sons Plumbing. On 30 October 20.2 you are given the following information for Carsten & Sons Plumbing.
Not yet
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