Suggested solutions for TAX3703
ASSESSMENT1 SEMESTER2 2024
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QUIZ
Assessment 1
TAX3703
Dué: 28 August 2024
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Question 1
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Question text
If you die with a Will, your estate will be administered according to?
a.
Your spouse.
b.
The laws of intestate succession and the Master will appoint an executor or representative to administer
your estate.
c.
The laws of testate succession and your will.
d.
None of the above.
Question 2
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Question text
At the date of their marriage (out of community of property with the accrual system applying), neither
Khosi nor Keneilwe declared any assets. On their way to their honeymoon destination, they were
involved in a tragic accident in which Khosi died. The executor of his estate found assets worth
R2 000 000 in Khosi’s estate. Which one of the following amounts represents Keneilwe’s accrual claim
against Khosi’s estate if we assume that she had assets worth R500 000 when Khosi died?
a.
R1 500 000
b.
R500 000
c.
Rnil
d.
R750 000
Question 3
Correct
Mark 1.00 out of 1.00
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Question text
Which one of the following is not normally a function of the Master?
a.
Keeping deceased estate accounts in safe custody.
Downloaded by: WriterTP | Want to earn
Distribution of this document is illegal R13,625 per year?
ASSESSMENT1 SEMESTER2 2024
written by
WriterTP
www.stuvia.com
Downloaded by: WriterTP | Want to earn
Distribution of this document is illegal R13,625 per year?
, Stuvia.com - The study-notes marketplace
QUIZ
Assessment 1
TAX3703
Dué: 28 August 2024
Downloaded by: WriterTP | Want to earn
Distribution of this document is illegal R13,625 per year?
, Stuvia.com - The study-notes marketplace
Highlighted are suggested solutions
Question 1
Correct
Mark 1.00 out of 1.00
Flag question
Question text
If you die with a Will, your estate will be administered according to?
a.
Your spouse.
b.
The laws of intestate succession and the Master will appoint an executor or representative to administer
your estate.
c.
The laws of testate succession and your will.
d.
None of the above.
Question 2
Correct
Mark 1.00 out of 1.00
Flag question
Downloaded by: WriterTP | Want to earn
Distribution of this document is illegal R13,625 per year?
, Stuvia.com - The study-notes marketplace
Question text
At the date of their marriage (out of community of property with the accrual system applying), neither
Khosi nor Keneilwe declared any assets. On their way to their honeymoon destination, they were
involved in a tragic accident in which Khosi died. The executor of his estate found assets worth
R2 000 000 in Khosi’s estate. Which one of the following amounts represents Keneilwe’s accrual claim
against Khosi’s estate if we assume that she had assets worth R500 000 when Khosi died?
a.
R1 500 000
b.
R500 000
c.
Rnil
d.
R750 000
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Which one of the following is not normally a function of the Master?
a.
Keeping deceased estate accounts in safe custody.
Downloaded by: WriterTP | Want to earn
Distribution of this document is illegal R13,625 per year?
