ecs1601

ECS1601 ASSIGNMENT 8 2024 Expected questions and answers for assignment 8

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The financial manager of Steven Traders hired an inexperienced bookkeeper, on 1 February 20.19, who was immediately required to assist with the creation of an allowance for credit losses (current financial year ends on 28 February 20.19). The auditors of Steven Traders raised an audit finding in the previous financial period, stating that trade and other receivables were overstated since no allowances for credit losses has been created although there was evidence that some of the debtors did n...

Identify the attributes of a professional librarian Winter (1988:xiii) describes the attributes model as the first systematic attempt to formulate a theory of professions. • Expertise • Service Orientation • Altruism • Self-organisation • Autonomy • Ethical code

When the SARB wishes to curb rising inflation, it will increase the interest rate. This will discourage the creation of bank deposits as people and firms will reduce or postpone borrowing from the banks, since the cost of borrowing rises as the interest rate increases. The quantity demanded for money decreases as the cost ofborrowing (interest rate) rises.

The study of tax is actually a study of tax law. The primary source of tax law is the tax acts. The content of TAX2601 is based on portions of the Income Tax Act and the Tax Administration Act. But, tax law also includes case law. Therefore, the content of TAX2601 includes some case law as well. The content of the module is divided into seven learning units, each represented by a tab on the module site. Each learning unit has a “Learning Unit Content” document (in pdf format) that will gui...

Mr Dube is the chairperson of the Student Support Committee at Malusi University. The Student Support Office together with the Student Representative Council (SRC) members have decided to engage the student body as well as do community work with local schools affected by drug abuse. Mr Dube called a meeting with the Student Support Officials and members of the SRC to discuss drug abuse issues at the university and how they could reach out to help students from neighbouring schools who exper...

If a fall in the price level results in a decline in interest rates, the latter may result in an increased outflow of capital in pursuit of higher interest rates overseas and/or a decline in capital inflows, because domestic interest rates are less attractive than before. This would result in a greater demand for foreign currency and a lower demand for the rand, which will give rise to a depreciation of the rand against the major currencies. The weaker rand, in turn, will tend to boost expor...

Reference: Prescribed book PG 315  Spending may be equal to production and income. In this case production and income are at their equilibrium levels – there is no tendency to change.  Spending may be greater than production and income. In this case production and income will tend to increase. They are therefore not at their equilibrium levels.  Spending may be less than production and income. In this case production and income will tend to fall. They are therefore not at their ...

Three broad functions of government:  the allocative function, which refers to the role of government in correcting market failure and achieving amore efficient allocation of resources  the distributive function, which refers to the steps taken by government to achieve a more equitable or sociallyacceptable distribution of income than that generated by market forces  the stabilisation function, which refers to the measures taken by government to promote macroeconomic stability (eg...