Exam (elaborations)
FAC2601 ASSESSMENT 5 SEMESTER 2 2024 (+A SOLUTIONS)
- Institution
- University Of South Africa (Unisa)
FAC2601 ASSESSMENT 5 SEMESTER 2 2024
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PU ESHI
NG Y L E NC
OU TO THE GATE OF EXC EL
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MULTIPLE CHOICE QUESTION ASSIGNMENT
Answer the following multiple-choice questions. Indicate your choice by selecting
only one option from the four options given for each question answered.
Use the following information to answer questions 1 and 2:
Mould Ltd sold goods to a customer for a total consideration of R181 500, payable 24
months after delivery. The customer obtained control of the products on delivery. The
cash selling price of the goods amounted to R150 000 and represents the amount that
the customer would pay upon delivery instead of over 24 months.
Mould Ltd will recognise:
REQUIRED:
Question 1
Which one of the following statements is correct based on the information provided
above?
1.
Revenue is recognized at an amount of R150 000 on delivery
2.
Revenue is recognized at an amount of R150 000 after 24 months
3.
Revenue is recognized at an amount of R181 500 on delivery
4.
Revenue is recognized at an amount of R181 500 after 24 months
Clear my choice
Question 2
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Question text
Use the following information to answer questions 2:
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