MAC2602
Exam Pack
Together We Pass
Exam Pack 2022
Written by The Together We Pass Team
www.togetherwepass.co.za
,Welcome
Welcome to your MAC2602 2022 Exam Pack, which was made and created by a team of
individuals dedicated to provide students with the best possible document in order to guide
students on what to possibly expect in their exams.
Complete with past examination papers and memorandums, this Exam Pack will guide you in the
right direction, leaving you well-prepared for your upcoming MAC2602 exam.
© 2022 Together We Pass. All rights reserved.
2
,Table of Contents
Welcome ............................................................................................................................................... 2
MAC2602 Jan/Feb 2021 Exam Paper ............................................................................................ 4
MAC2602 Jan/Feb 2021 Exam Memo ......................................................................................... 13
MAC2602 Oct/Nov 2020 Exam Paper ......................................................................................... 18
MAC2602 Oct/Nov 2020 Exam Memo ........................................................................................ 25
MAC2602 June/July 2020 Exam Paper ........................................................................................ 30
MAC2602 June/July 2020 Exam Memo ....................................................................................... 37
© 2022 Together We Pass. All rights reserved.
3
, MAC2602 Exam Pack Principles of
Strategy, Risk, and Financial
Management Techniques
MAC2602 Jan/Feb 2021 Exam Paper
Question 1: Multiple Choice Questions
This question consists of ten multiple-choice questions. Each question must be considered
independently, except where specific reference is made to information in another question. Each
question has only one correct answer, and the marks per question (1.1 – 1.10) are indicated in
brackets after each question.
List the question numbers below one another, from 1.1 – 1.10, with your corresponding answer
next to it, for example:
1.1 (a)
1.2 (b)
The questions are as follows:
1.1 The major limitations of financial information are given below:
(1) The financial statements are to an extent, subjective or reflective of the judgement of the
accountants who prepared it. Although the IFRS helps to align the accounting policies of an
organisation, there are still certain industry specific transactions that may have an effect on the
way the financial information is accounted for, or technical errors may occur.
(2) The financial information is the responsibility of the directors. Independent auditors then state
their opinion regarding the fairness of the financial performance, position and cash flows in the
financial statements. The audit guarantees the total accuracy and an exact level of assurance that
the figures presented are in accordance with IFRS.
(3) There is limited guidance on forward-looking information of an organisation. Organisations can
be sued if they do not achieve specific targets.
(4) Financial statements represent past results which will not necessarily predict what the future
results will be. The annual report also has a tendency not to reflect all the failures and mistakes
and can exaggerate achievements of management.
(5) In some instances, financial statements still reflect information on a historical cost basis, and
thus do not include the effect of inflation or changes in, for example, an asset’s value.
© 2022 Together We Pass. All rights reserved.
4
Exam Pack
Together We Pass
Exam Pack 2022
Written by The Together We Pass Team
www.togetherwepass.co.za
,Welcome
Welcome to your MAC2602 2022 Exam Pack, which was made and created by a team of
individuals dedicated to provide students with the best possible document in order to guide
students on what to possibly expect in their exams.
Complete with past examination papers and memorandums, this Exam Pack will guide you in the
right direction, leaving you well-prepared for your upcoming MAC2602 exam.
© 2022 Together We Pass. All rights reserved.
2
,Table of Contents
Welcome ............................................................................................................................................... 2
MAC2602 Jan/Feb 2021 Exam Paper ............................................................................................ 4
MAC2602 Jan/Feb 2021 Exam Memo ......................................................................................... 13
MAC2602 Oct/Nov 2020 Exam Paper ......................................................................................... 18
MAC2602 Oct/Nov 2020 Exam Memo ........................................................................................ 25
MAC2602 June/July 2020 Exam Paper ........................................................................................ 30
MAC2602 June/July 2020 Exam Memo ....................................................................................... 37
© 2022 Together We Pass. All rights reserved.
3
, MAC2602 Exam Pack Principles of
Strategy, Risk, and Financial
Management Techniques
MAC2602 Jan/Feb 2021 Exam Paper
Question 1: Multiple Choice Questions
This question consists of ten multiple-choice questions. Each question must be considered
independently, except where specific reference is made to information in another question. Each
question has only one correct answer, and the marks per question (1.1 – 1.10) are indicated in
brackets after each question.
List the question numbers below one another, from 1.1 – 1.10, with your corresponding answer
next to it, for example:
1.1 (a)
1.2 (b)
The questions are as follows:
1.1 The major limitations of financial information are given below:
(1) The financial statements are to an extent, subjective or reflective of the judgement of the
accountants who prepared it. Although the IFRS helps to align the accounting policies of an
organisation, there are still certain industry specific transactions that may have an effect on the
way the financial information is accounted for, or technical errors may occur.
(2) The financial information is the responsibility of the directors. Independent auditors then state
their opinion regarding the fairness of the financial performance, position and cash flows in the
financial statements. The audit guarantees the total accuracy and an exact level of assurance that
the figures presented are in accordance with IFRS.
(3) There is limited guidance on forward-looking information of an organisation. Organisations can
be sued if they do not achieve specific targets.
(4) Financial statements represent past results which will not necessarily predict what the future
results will be. The annual report also has a tendency not to reflect all the failures and mistakes
and can exaggerate achievements of management.
(5) In some instances, financial statements still reflect information on a historical cost basis, and
thus do not include the effect of inflation or changes in, for example, an asset’s value.
© 2022 Together We Pass. All rights reserved.
4
