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Assessment 3 Attempt review 2
Financial Accounting Principles (University of South Africa)
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8/14/22, 6:38 PM Assessment 3: Attempt review
MENU
Dashboard / My courses / FAC1502-22-S1
Started on
/ WELCOME Thursday,
TO FAC1502 28 April 2022,
FINANCIAL 1:17 PM 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES
ACCOUNTING
State Finished
/ Assessment 3
Completed on Thursday, 28 April 2022, 1:26 PM
Time taken 9 mins 15 secs
Marks 37.00/41.00
Grade 90.24 out of 100.00
Feedback Congratulations, you pass the assessment with a distinction.
Question 1
Incorrect
Mark 0.00 out of 1.00
Indicate whether the following statement is true or false:
The statement of financial position is prepared to reflect the financial position of the business over a specific period.
Select one:
True ý
False
The correct answer is 'False'.
Question 2
Incorrect
Mark 0.00 out of 1.00
Indicate whether the following statement is true or false:
The historical cost of asset and liabilities are increased if they become impaired or onerous.
Select one:
True ý
False
The correct answer is 'False'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2886923&cmid=117745 1/19
Downloaded by Mdue Mafu ()
, lOMoARcPSD|8271649
8/14/22, 6:38 PM Assessment 3: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
MENU
Indicate by choosing the correct option whether the following statement is true or false:
Dashboard / My courses / FAC1502-22-S1
The bank statement of HS Stores has a unfavourable balance of R5 000 on 30 June 20.1. When preparing the bank reconciliation statement,
/ WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES
the bookkeeper of HS Stores will enter the unfavourable balance of R5 000 on the credit side of the bank reconciliation statement as at 30
June 20.1.
/ Assessment 3
Select one:
True
False ü
The correct answer is 'False'.
Question 4
Correct
Mark 1.00 out of 1.00
If the closing balance of the VAT input account and VAT output account for the month ended 31 December 20.20 amount to R4 566 and R16
780, respectively. Is the following statement true or false about the VAT control account for the month ended 31 December 20.20.
The VAT control account will be debited with the amount of the VAT input account of R4 566 and credited with the amount of the VAT
output account of R16 780.
Select one:
True ü
False
The correct answer is 'True'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2886923&cmid=117745 2/19
Downloaded by Mdue Mafu ()
Assessment 3 Attempt review 2
Financial Accounting Principles (University of South Africa)
Scan to open on Studocu
Studocu is not sponsored or endorsed by any college or university
Downloaded by Mdue Mafu ()
, lOMoARcPSD|8271649
8/14/22, 6:38 PM Assessment 3: Attempt review
MENU
Dashboard / My courses / FAC1502-22-S1
Started on
/ WELCOME Thursday,
TO FAC1502 28 April 2022,
FINANCIAL 1:17 PM 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES
ACCOUNTING
State Finished
/ Assessment 3
Completed on Thursday, 28 April 2022, 1:26 PM
Time taken 9 mins 15 secs
Marks 37.00/41.00
Grade 90.24 out of 100.00
Feedback Congratulations, you pass the assessment with a distinction.
Question 1
Incorrect
Mark 0.00 out of 1.00
Indicate whether the following statement is true or false:
The statement of financial position is prepared to reflect the financial position of the business over a specific period.
Select one:
True ý
False
The correct answer is 'False'.
Question 2
Incorrect
Mark 0.00 out of 1.00
Indicate whether the following statement is true or false:
The historical cost of asset and liabilities are increased if they become impaired or onerous.
Select one:
True ý
False
The correct answer is 'False'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2886923&cmid=117745 1/19
Downloaded by Mdue Mafu ()
, lOMoARcPSD|8271649
8/14/22, 6:38 PM Assessment 3: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
MENU
Indicate by choosing the correct option whether the following statement is true or false:
Dashboard / My courses / FAC1502-22-S1
The bank statement of HS Stores has a unfavourable balance of R5 000 on 30 June 20.1. When preparing the bank reconciliation statement,
/ WELCOME TO FAC1502 FINANCIAL ACCOUNTING 1: FINANCIAL ACCOUNTING CONCEPTS, PRINCIPLES AND PROCEDURES
the bookkeeper of HS Stores will enter the unfavourable balance of R5 000 on the credit side of the bank reconciliation statement as at 30
June 20.1.
/ Assessment 3
Select one:
True
False ü
The correct answer is 'False'.
Question 4
Correct
Mark 1.00 out of 1.00
If the closing balance of the VAT input account and VAT output account for the month ended 31 December 20.20 amount to R4 566 and R16
780, respectively. Is the following statement true or false about the VAT control account for the month ended 31 December 20.20.
The VAT control account will be debited with the amount of the VAT input account of R4 566 and credited with the amount of the VAT
output account of R16 780.
Select one:
True ü
False
The correct answer is 'True'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=2886923&cmid=117745 2/19
Downloaded by Mdue Mafu ()
