UNISA 2023 LML4804-23-S2 Welcome Message Assessment 4
QUIZ
Started on Sunday, 24 September 2023, 1:38 AM
State Finished
Completed on Sunday, 24 September 2023, 1:43 AM
Time taken 4 mins 36 secs
Marks 13.00/13.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
On 30 November 2022 Cycling Africa CC sells a bicycle to Tsepo for R1 000. Starting on 30 November 2022, Tsepo pays the
purchase price in ten equal monthly instalments of R100 each. Cycling Africa CC’s year of assessment is the same as the year
of assessment of its sole member, Tamara.
What amount must Cycling Africa CC include in its gross income for the 2022/2023 year of assessment?
a. The R400 actually received.
b. The amount actually received.
c. Nothing, since the full purchase price must only be declared in the 2022/2023 year of assessment.
d. R1 000, since the full amount already accrued to Cycling Africa CC.
Your answer is correct.
The correct answer is:
R1 000, since the full amount already accrued to Cycling Africa CC.
, Question 2
Correct
Mark 1.00 out of 1.00
Complete the sentence by choosing the correct answer below: In ___________ the court concluded that it is probably impossible
to formulate a definition to serve as a universal test for deciding whether an amount is derived from a source in the Republic.
a. CIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353 (A)
b. PE Electric Tramway Company Ltd v CIR 1936 CPD 241
c. CIR v Strathmore Exploration and Management Ltd 1956 (1) SA 591 (A)
d. CIR v Lever Bros & another 1946 AD 441
Your answer is correct.
The correct answer is:
CIR v Lever Bros & another 1946 AD 441
Question 3
Correct
Mark 1.00 out of 1.00
Which ONE of the following statements is CORRECT?
a. Section 7(2) is an anti-avoidance provision aimed at preventing married couple that are only married in community of
property from reducing their liability for normal tax.
b. When a minor child or stepchild receives income in his own right, the income is subject to tax in the hands of the
parent.
c. Section 7(3) provides that the parent of the minor child or stepchild is taxed on the income received by that child
by reason of any donation, settlement or other disposition by the parent to that child or stepchild.
d. Spouses in a marriage are taxed jointly on their income for the particular year of assessment.
Your answer is correct.
The correct answer is:
Section 7(3) provides that the parent of the minor child or stepchild is taxed on the income received by that child by reason of
any donation, settlement or other disposition by the parent to that child or stepchild.
QUIZ
Started on Sunday, 24 September 2023, 1:38 AM
State Finished
Completed on Sunday, 24 September 2023, 1:43 AM
Time taken 4 mins 36 secs
Marks 13.00/13.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
On 30 November 2022 Cycling Africa CC sells a bicycle to Tsepo for R1 000. Starting on 30 November 2022, Tsepo pays the
purchase price in ten equal monthly instalments of R100 each. Cycling Africa CC’s year of assessment is the same as the year
of assessment of its sole member, Tamara.
What amount must Cycling Africa CC include in its gross income for the 2022/2023 year of assessment?
a. The R400 actually received.
b. The amount actually received.
c. Nothing, since the full purchase price must only be declared in the 2022/2023 year of assessment.
d. R1 000, since the full amount already accrued to Cycling Africa CC.
Your answer is correct.
The correct answer is:
R1 000, since the full amount already accrued to Cycling Africa CC.
, Question 2
Correct
Mark 1.00 out of 1.00
Complete the sentence by choosing the correct answer below: In ___________ the court concluded that it is probably impossible
to formulate a definition to serve as a universal test for deciding whether an amount is derived from a source in the Republic.
a. CIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353 (A)
b. PE Electric Tramway Company Ltd v CIR 1936 CPD 241
c. CIR v Strathmore Exploration and Management Ltd 1956 (1) SA 591 (A)
d. CIR v Lever Bros & another 1946 AD 441
Your answer is correct.
The correct answer is:
CIR v Lever Bros & another 1946 AD 441
Question 3
Correct
Mark 1.00 out of 1.00
Which ONE of the following statements is CORRECT?
a. Section 7(2) is an anti-avoidance provision aimed at preventing married couple that are only married in community of
property from reducing their liability for normal tax.
b. When a minor child or stepchild receives income in his own right, the income is subject to tax in the hands of the
parent.
c. Section 7(3) provides that the parent of the minor child or stepchild is taxed on the income received by that child
by reason of any donation, settlement or other disposition by the parent to that child or stepchild.
d. Spouses in a marriage are taxed jointly on their income for the particular year of assessment.
Your answer is correct.
The correct answer is:
Section 7(3) provides that the parent of the minor child or stepchild is taxed on the income received by that child by reason of
any donation, settlement or other disposition by the parent to that child or stepchild.
