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Question l Depreciation is considered an operating expense and is included in the Statement of Profit or Loss and Other Comprehensive Income
Not yet
answered
O True
Marked out of
1 00 O False
EH
Depreciation is a non-cash operating expense. It is included in the calculation of profit or
loss, as shown in examples in (FAC1601 Learning units 2026.pdf,Page 69, Example 3.5).
>
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< Glossary of accounting terms
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Assessment plan semester one 2026
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Question Z Which one of the following expenses should be included in the cost of nvente sold during the year?
Not yet
answered
O a. Carriage on purchases
Marked out of
1.50
O b. Insurance on deliveries
O c. Carriage on sales
Ela ,9M
O d. Settlement discount granted
Clear my hoice
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< (lo4gary of geeountinn term
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> ?
Carriage on purchases is a cost directly attributable to bringing inventories to their present location
and condition, as per FAC1601 Learning units 2026.pdf (Page 34) . Carriage on sales and
settlementdiscount granted are selling/distribution costs, and insurance on deliveries is not a
production-related cost.
,A-
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Question 33 A company purchased equipment for R500 000 with a residual value of R20 000 and a useful life of 4 years What is the depreciable amount?
Not yet
answered
0 a, R520 000
Marked out of
2.00
0 b. R120 000
O c. None of the above
0 d. R500 000
0 e. R480 000
Clear my choi
The depreciable amount is cost less residual value: R500,000 - R20,000 = R480,000. This
Previous page matches the definition in FAC1601 Learning units 2026.pdf (Page 66) .
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Assessment 1 (page 4 of 30 X +
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Question 4 If the residual value of an asset increases to equal its carrying amount, depreciation becomes zero.
Not yet
answered
0 True
Marked out of
150 0 False
FAC1601 Learning units 2026.pdf (Page 66) explicitly states: "The residual value of an
Previous page
asset may increase to an amount equal to or greater than the asset's carrying amount. If it
does, the asset's depreciation charge is zero..."
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< Glossary of accounting terms
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Assessment plan semester one 2026 >
, Assessment 1 (page 5 of 30 K 4
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Question Sb A company uses specialised equipment under a contract that allows it to determine how the equipment is used and obtain the benefits from it; which concept is
Not yet illustrated?
answered
Marked out of
150
0 a Measurement uncertainty
0 b. Cost constraint
0 C. Legal ownership
0 d. Control of an economic resource
0 e. None of the above
CI ny
FAC1601 Learning units 2026.pdf (Page 66) explicitly states: "The residual value of an
Previous page
asset may increase to an amount equal to or greater than the asset's carrying amount. If it
does, the asset's depreciation charge is zero..."
Assessment 1 (page 6 0f 30) ¢ 4
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Question 6 Which of the following costs are included in the cost of
Not yet
answered
O a. Direct labour
Marked out of
2.00
O b. Import duties
O c. Transport costs to warehouse
O d. None of the above
O e. All of the above
Clear my choice
Direct labour (conversion cost), import duties (purchase cost), and transport costs to
Previous page the warehouse (purchase cost) are all included in the cost of inventories as per
FAC1601 Learning units 2026.pdf (Pages 34 & 36)
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, Assessment 1 (page 7 0f 30 X +
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quest6 7 Which one of the following alternatives is incorrect?
Not yet
answered
0a The purpose of the
C ceptual r1< is to override any particular disclosure or measurement requirement in any IFRS
Marked out of
150 Ob The purpose of the I
C ceptual k is to assist in harmonising legislation and reducing the number of alternative accounting treatments.
Oc The purpose of C I
the ceptual k is to assist users in interpreting the information in interpreting the financial statements when compiled according
to IFRS.
Od The purpose of the fr
C ceptual is to assist in developing future standards.
y choice
Previous page
The FAC1601 Study guide.pdf (Page 17, Feedback 1.1) and FAC1601 Learning
units 2026.pdf (Page 5) both state that the Conceptual Framework is not an IFRS
and does not override any specific IFRS
/
Previous a, Au.,a
Assessment 1 (page 8 of 30) X +
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Question 8 Which of the following costs is NOT capitalised as part of the cost of PPE?
Not yet
answered
O a Testing costs
Marked out of
2.00
Ob None of the above
rgq 0 c Staff training costs
0 d. Delivery costs
Oe Installation costs
Cl ar my cho
FAC1601 Learning units 2026.pdf (Page 64) lists "Training costs, e.g., training staff
Previous page
on how to use the newly acquired asset" as an example of a cost that is NOT
capitalised.
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9
€ C ; mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=31226335&cmid = 1294872#
1--.,,
* Acton
UNISAL=. .-C myAdmin Unisa library 0 o
D FAC1601-26-$1 Welcome Me sage Assessment 1
II
QUIZ
Assessment 1
Back
] 153.26]
Time left
Question l Depreciation is considered an operating expense and is included in the Statement of Profit or Loss and Other Comprehensive Income
Not yet
answered
O True
Marked out of
1 00 O False
EH
Depreciation is a non-cash operating expense. It is included in the calculation of profit or
loss, as shown in examples in (FAC1601 Learning units 2026.pdf,Page 69, Example 3.5).
>
Previous activity Next activity
< Glossary of accounting terms
Jump to ...
Assessment plan semester one 2026
C ; mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt =31226335&cmid=129487284page= T
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FAC1601-26-S1 Welcome M Assessment 1
II
QUIZ
Assessment 1
Back
nae let 1.s3.17]
Question Z Which one of the following expenses should be included in the cost of nvente sold during the year?
Not yet
answered
O a. Carriage on purchases
Marked out of
1.50
O b. Insurance on deliveries
O c. Carriage on sales
Ela ,9M
O d. Settlement discount granted
Clear my hoice
Previous page a»o
Previous activity Next activity
< (lo4gary of geeountinn term
Jump to...
> ?
Carriage on purchases is a cost directly attributable to bringing inventories to their present location
and condition, as per FAC1601 Learning units 2026.pdf (Page 34) . Carriage on sales and
settlementdiscount granted are selling/distribution costs, and insurance on deliveries is not a
production-related cost.
,A-
1(page 3 0f 30) X +
% mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=31226335&cmid= 12948728page=2
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AC1601-26-S1 Welcome Message Assessment 1
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11 Assessment 1
Back
] 1.53.07]
Time left
Question 33 A company purchased equipment for R500 000 with a residual value of R20 000 and a useful life of 4 years What is the depreciable amount?
Not yet
answered
0 a, R520 000
Marked out of
2.00
0 b. R120 000
O c. None of the above
0 d. R500 000
0 e. R480 000
Clear my choi
The depreciable amount is cost less residual value: R500,000 - R20,000 = R480,000. This
Previous page matches the definition in FAC1601 Learning units 2026.pdf (Page 66) .
Previous activity Next activity
Z .Iumnn to \
Assessment 1 (page 4 of 30 X +
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9 FAC1601-26- Welcome Message Assessment 1
II'"" Assessment 1
Back
] 1.5257/
Time left
Question 4 If the residual value of an asset increases to equal its carrying amount, depreciation becomes zero.
Not yet
answered
0 True
Marked out of
150 0 False
FAC1601 Learning units 2026.pdf (Page 66) explicitly states: "The residual value of an
Previous page
asset may increase to an amount equal to or greater than the asset's carrying amount. If it
does, the asset's depreciation charge is zero..."
Previous activity Next activity
< Glossary of accounting terms
(
Jump to..
Assessment plan semester one 2026 >
, Assessment 1 (page 5 of 30 K 4
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FAC1601-26- Welcome Mes Assessment 1
II
a,oz
Assessment 1
Back
Time left 1.5244/
Question Sb A company uses specialised equipment under a contract that allows it to determine how the equipment is used and obtain the benefits from it; which concept is
Not yet illustrated?
answered
Marked out of
150
0 a Measurement uncertainty
0 b. Cost constraint
0 C. Legal ownership
0 d. Control of an economic resource
0 e. None of the above
CI ny
FAC1601 Learning units 2026.pdf (Page 66) explicitly states: "The residual value of an
Previous page
asset may increase to an amount equal to or greater than the asset's carrying amount. If it
does, the asset's depreciation charge is zero..."
Assessment 1 (page 6 0f 30) ¢ 4
- C
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FAC16C -26-S1 We! me Message Assessment 1
II
am,
Assessment 1
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]Time left 1.5234]
Question 6 Which of the following costs are included in the cost of
Not yet
answered
O a. Direct labour
Marked out of
2.00
O b. Import duties
O c. Transport costs to warehouse
O d. None of the above
O e. All of the above
Clear my choice
Direct labour (conversion cost), import duties (purchase cost), and transport costs to
Previous page the warehouse (purchase cost) are all included in the cost of inventories as per
FAC1601 Learning units 2026.pdf (Pages 34 & 36)
Previous activity Next activity
, Assessment 1 (page 7 0f 30 X +
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.C myAdmin Unisa Library 0 0
D FAC1601-26-S1
Q""
Welcome Message Assessment 1
II Assessment 1
Back
]Time let 1.5226[
quest6 7 Which one of the following alternatives is incorrect?
Not yet
answered
0a The purpose of the
C ceptual r1< is to override any particular disclosure or measurement requirement in any IFRS
Marked out of
150 Ob The purpose of the I
C ceptual k is to assist in harmonising legislation and reducing the number of alternative accounting treatments.
Oc The purpose of C I
the ceptual k is to assist users in interpreting the information in interpreting the financial statements when compiled according
to IFRS.
Od The purpose of the fr
C ceptual is to assist in developing future standards.
y choice
Previous page
The FAC1601 Study guide.pdf (Page 17, Feedback 1.1) and FAC1601 Learning
units 2026.pdf (Page 5) both state that the Conceptual Framework is not an IFRS
and does not override any specific IFRS
/
Previous a, Au.,a
Assessment 1 (page 8 of 30) X +
- C
% mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=31226335&cmid= 12948728page=T
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UNISA- .-C myAdmin Unisa Library
FAC1601-26-$1 Welcome Message Assessment 1
II
QUIZ
Assessment 1
Back
I
Time left 1s217]
Question 8 Which of the following costs is NOT capitalised as part of the cost of PPE?
Not yet
answered
O a Testing costs
Marked out of
2.00
Ob None of the above
rgq 0 c Staff training costs
0 d. Delivery costs
Oe Installation costs
Cl ar my cho
FAC1601 Learning units 2026.pdf (Page 64) lists "Training costs, e.g., training staff
Previous page
on how to use the newly acquired asset" as an example of a cost that is NOT
capitalised.
ff4fl
