FAC1502 ASSESSMENT 3 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS

lOMoAR cPSD| 47246239




FAC1502 ASSESSMENT 3 SEM 2 OF 2024
EXPECTED QUESTIONS AND ANSWERS




Financial Accounting Principles

,
, lOMoAR cPSD| 47246239




8/14/22, 6:38 PM Assessment 3: Attempt review



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Dashboard / My courses / FAC1502-22-S1
/ WELCOME TO FAC1502Started onThursda FINANCIAL ACCOUNTING 1: FINANCIAL
ACCOUNTING CONCEPTSy, 28 April 2022, 1:17 PM , PRINCIPLES AND PROCEDURES
StateFinished
/ Assessment 3
Completed onThursday, 28 April 2022, 1:26 PM
Time taken9 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

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

False



The correct answer is 'False'.