FAC1503 ASSIGNMENT 2 FOR 2ND SEMESTER 2024

FAC1503
ASSIGNMENT 2 FOR 2ND SEMESTER 2024




FEND TUTORIALS

,Question 2
Answer saved
Marked out of 1.00

Flag question

Question text
While preparing the bank reconciliation statement one should compare the credit column of the bank
statement with the cash payments journal in the accounting records of the business.
Select one:
True
False

Question 3
Answer saved
Marked out of 1.00

Flag question

Question text
The following items appeared in the bank statement only:
Deposit - Mr Mnguni R12 200
Debit order - Pay Insurers R2 359
Interest from credit balance R455
Deposit fee R10
Monthly account fee R350
What is the amount that will be recorded as bank charges?
Select one:

a.
R455


b.
R815



Whatsapp Marlvin @ +2763 173 8181

, c.
R10


d.
R360

Clear my choice

Question 4
Answer saved
Marked out of 1.00

Flag question

Question text
What is meant by trade receivables?
Select one:

a.
Money owed to an entity by its employees.

b.
Money owed by an entity to its vendors.

c.
Money owed to an entity by its debtors.

d.
Money owed by an entity to its creditors.
Clear my choice

Question 5
Answer saved
Marked out of 1.00

Flag question

Question text
If the asset was bought during the financial year, the depreciation only needs to be calculated during
the first full accounting period in which the asset is used.
Select one:
True
False

Question 6



Whatsapp Marlvin @ +2763 173 8181