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Mac1501 Assignment 4 Semester 1 2023
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5/4/23, 9:57 AM Assessment 4: Attempt reviewMENU
Dashboard / Courses / UNISA / 2023 / Semester 1 / MAC1501-23-S1 / Welcome Message / Assessment 4
Started on Thursday, 4 May 2023, 9:38 AM
State Finished
Completed on Thursday, 4 May 2023, 9:57 AM
Time taken 19 mins 9 secs
Marks 36.00/40.00
Grade 90.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
The information contained in financial statements are used by the external parties only.
Select one:
True
False
Question 2
Correct
Mark 1.00 out of 1.00
The financial manager is directly responsible for the management and control of inventory.
Select one:
True
False
Question 3
Correct
Mark 1.00 out of 1.00
Net working capital is the excess of a company’s current liabilities over current assets.
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10236779&cmid=623864 1/9
,5/4/23, 9:57 AM Assessment 4: Attempt review
Question 4
Correct
Mark 1.00 out of 1.00
MENU
Process costing accumulates and assigns costs per job.
Dashboard / Courses / UNISA / 2023 / Semester 1 / MAC1501-23-S1 / Welcome Message / Assessment 4
Select one:
True
False
Question 5
Correct
Mark 1.00 out of 1.00
Creditworthiness refers to the ability of customers to pay their accounts.
Select one:
True
False
Question 6
Correct
Mark 1.00 out of 1.00
The following journal entry would be made to apply overhead cost to jobs in a job costing system:
Dr Cr
Manufacturing overhead xx
Work-in-process xx
Select one:
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10236779&cmid=623864 2/9
,5/4/23, 9:57 AM Assessment 4: Attempt review
Question 7
Correct
Mark 2.00 out of 2.00
MENU
Complete the following statements by choosing the correct answer from the options provided:
Dashboard / Courses / UNISA / 2023 / Semester 1 / MAC1501-23-S1 / Welcome Message / Assessment 4
The inventory turnover ratio measures the speed at which inventories are turned into debtors.
Annual audit fee is not considered a production overhead cost for a manufacturer.
Question 8
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided:
A manufacturing firm is very busy trying to catch up on a backlog in production, and overtime is being worked. The amount of overtime
premium contained in direct wages would normally be classified as direct labour costs
Factory’s capacity where the anticipated use of available capacity is based on the planned production levels in the budget of the company
is referred to as budgeted capacity
Question 9
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided:
Risk is the probability that the actual outcome of an event will be different from the expected outcome.
The inventory management strategy where inventory is ordered and delivered based on sales or production forecast is known as
Materials requirement planning (MPR) system .
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10236779&cmid=623864 3/9
, 5/4/23, 9:57 AM Assessment 4: Attempt review
Question 10
Partially correct
Mark 1.00 out of 2.00
MENU
Complete the following statements by choosing the correct answer from the options provided:
Dashboard / Courses / UNISA / 2023 / Semester 1 / MAC1501-23-S1 / Welcome Message / Assessment 4
The Debt ratio measures the company’s ability to pay off its current liabilities with current assets.
Credit period refers to the length of time that customers will be allowed to pay their accounts.
Question 11
Correct
Mark 2.00 out of 2.00
Complete the following statements by choosing the correct answer from the options provided:
Debt-equity ratio calculates the percentage of the company’s financing that comes from creditors and investors.
The extra units that should be ordered in case the inventory used while waiting for delivery was higher than anticipated are known as
Safety stock .
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=10236779&cmid=623864 4/9
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