FAC1502
Assignment 2
Semester 1
Questions and
Answers
, ASSIGNMENT 02 FOR FIRST SEMESTER
DUE DATE: 8 April 2020
UNIQUE NUMBER: 887604 (MULTIPLE-CHOICE QUESTIONS)
Do this assignment on a mark-reading sheet and mail it or submit it through the Unisa
MobileMCQ Application or myUnisa.
To submit the assignment:
Go into myUnisa with your password.
Choose assessment info.
Choose assignment 01, with the unique code 887604.
Choose view at the back of assignment 01.
Create a mark-reading sheet for 15 MCQ’s.
Now choose the correct option from the five options given for each question.
Click on the option chosen in the mark-reading sheet (in front).
Please make sure that the answer in front is the correct option chosen. If you
decide that (2) are the correct option for question 1, you must click on the round
block in front of the 2 on the mark-reading sheet created. A [2] will then appear in
the answer block in front.
Submit the assignment after all the questions were answered and you have made
sure all the answers on the mark-reading sheet corresponds with the options you
have chosen.
You will receive a message that the assignment was uploaded successfully.
A resubmit button will appear. Only resubmit the assignment if you feel some of
the answers is not correct. Then all the options must be entered again and not just
the answers you want to change. If you do not want to change your original
submission, please do not click on the resubmit button because then all your
answers of the first submission will disappear and you will have naught for the
assignment.
Use the information provided below, for Siyeza Traders for the financial year ended 28
February 20.8, to answer questions 1 to 3.
Siyeza Traders is an enterprise that sell motor vehicles in the ordinary course of business at a
mark-up of 45% on cost. During the current financial period, Siyeza Traders sold eight motor
vehicles for a cash price of R80 000 each (15% VAT inclusive). Round your answer off to the
nearest Rand.
1. Income earned from the sale of motor vehicles will be classified under ... in the statement
of profit or loss and other comprehensive income.
(1) Other income
(2) Profit on sale of motor vehicle
(3) Revenue
(4) Gains
(5) Finance income
Assignment 2
Semester 1
Questions and
Answers
, ASSIGNMENT 02 FOR FIRST SEMESTER
DUE DATE: 8 April 2020
UNIQUE NUMBER: 887604 (MULTIPLE-CHOICE QUESTIONS)
Do this assignment on a mark-reading sheet and mail it or submit it through the Unisa
MobileMCQ Application or myUnisa.
To submit the assignment:
Go into myUnisa with your password.
Choose assessment info.
Choose assignment 01, with the unique code 887604.
Choose view at the back of assignment 01.
Create a mark-reading sheet for 15 MCQ’s.
Now choose the correct option from the five options given for each question.
Click on the option chosen in the mark-reading sheet (in front).
Please make sure that the answer in front is the correct option chosen. If you
decide that (2) are the correct option for question 1, you must click on the round
block in front of the 2 on the mark-reading sheet created. A [2] will then appear in
the answer block in front.
Submit the assignment after all the questions were answered and you have made
sure all the answers on the mark-reading sheet corresponds with the options you
have chosen.
You will receive a message that the assignment was uploaded successfully.
A resubmit button will appear. Only resubmit the assignment if you feel some of
the answers is not correct. Then all the options must be entered again and not just
the answers you want to change. If you do not want to change your original
submission, please do not click on the resubmit button because then all your
answers of the first submission will disappear and you will have naught for the
assignment.
Use the information provided below, for Siyeza Traders for the financial year ended 28
February 20.8, to answer questions 1 to 3.
Siyeza Traders is an enterprise that sell motor vehicles in the ordinary course of business at a
mark-up of 45% on cost. During the current financial period, Siyeza Traders sold eight motor
vehicles for a cash price of R80 000 each (15% VAT inclusive). Round your answer off to the
nearest Rand.
1. Income earned from the sale of motor vehicles will be classified under ... in the statement
of profit or loss and other comprehensive income.
(1) Other income
(2) Profit on sale of motor vehicle
(3) Revenue
(4) Gains
(5) Finance income
