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UNISA 2023 FAC1601-23-S2 Welcome Message Assessment 1
QUIZ
Time left 1:49:33
Question 1
The de�nition of a liability is:
Not yet
answered
Marked out of
1.00 A. A future economic resource controlled by a
reporting entity as a result of a future event.
B. A present obligation of a reporting entity, to
transfer an economic resource as a result of a past
event.
C. A future economic resource controlled by a
reporting entity as a result of a past event.
D. A present economic resource controlled by a
reporting entity as a result of a past event.
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Question 2 Which of the following measurement bases will often be
Not yet encountered in a set of �nancial statements:
answered
Marked out of
A. Present value
1.00
B. Historical cost
C. Fair value
D. All of the above
Question 3 Which of the following statements is correct:
Not yet
answered
A. A liability is a future obligation of a reporting entity
Marked out of
to transfer an economic resource as a result of a
1.00
past event.
B. The accounting equation is: Assets = equity +
liability .
C. The value of a reporting entity lies in the total
assets (current + non-current) under its control.
D. Equity is the residual interest in the assets of the
entity after deducting all the expenses.
,Firefox https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=12703242&cmid=673032
Question 4 The statement of �nancial position consists of three
Not yet elements namely:
answered
Marked out of
A. Liabilities, income and expenses
1.00
B. Assets, income and expenses
C. Liabilities, equity and expenses
D. Assets, liabilities and equity
Question 5 Daliwonga purchased a Crane for his construction
Not yet business. Which one of the following expenses should be
answered
included in the cost the machine:
Marked out of
1.00
A. Crane cost
B. Delivery costs
C. Installation costs
D. All of the above
UNISA 2023 FAC1601-23-S2 Welcome Message Assessment 1
QUIZ
Time left 1:49:33
Question 1
The de�nition of a liability is:
Not yet
answered
Marked out of
1.00 A. A future economic resource controlled by a
reporting entity as a result of a future event.
B. A present obligation of a reporting entity, to
transfer an economic resource as a result of a past
event.
C. A future economic resource controlled by a
reporting entity as a result of a past event.
D. A present economic resource controlled by a
reporting entity as a result of a past event.
,Firefox https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=12703242&cmid=673032
Question 2 Which of the following measurement bases will often be
Not yet encountered in a set of �nancial statements:
answered
Marked out of
A. Present value
1.00
B. Historical cost
C. Fair value
D. All of the above
Question 3 Which of the following statements is correct:
Not yet
answered
A. A liability is a future obligation of a reporting entity
Marked out of
to transfer an economic resource as a result of a
1.00
past event.
B. The accounting equation is: Assets = equity +
liability .
C. The value of a reporting entity lies in the total
assets (current + non-current) under its control.
D. Equity is the residual interest in the assets of the
entity after deducting all the expenses.
,Firefox https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=12703242&cmid=673032
Question 4 The statement of �nancial position consists of three
Not yet elements namely:
answered
Marked out of
A. Liabilities, income and expenses
1.00
B. Assets, income and expenses
C. Liabilities, equity and expenses
D. Assets, liabilities and equity
Question 5 Daliwonga purchased a Crane for his construction
Not yet business. Which one of the following expenses should be
answered
included in the cost the machine:
Marked out of
1.00
A. Crane cost
B. Delivery costs
C. Installation costs
D. All of the above
