TAX2601
EXAM PACK
, UNISA 2025 TAX2601-25-S2 Assessment
QUIZ
Started on .2142 1/9 ,582302 5
State Finished
Completed on .2142 1/9 ,582302 5
Time taken 1 hour
Marks
out of 100.00
Question 1
Correct
Mark 2.00 out of 2.00
Ngwenya (Pty) Ltd advertises its products on television. It pays a premium once a year. On 1 July 2023 it paid R800 000 for
advertisements that will be aired until 30 June 2024. How much is deductible by Ngwenya (Pty) Ltd in determining it's taxable
income for the year of assessment ended February 2024.
a. R800 000
b. R nil
c. R100 000
d. R533 333
The correct answer is: R800 000
, Ngwenya (Pty) Ltd during the 29 February 2024 year of assessment, had the following two transactions occur which the
�nancial accountant asks you what the tax implications are: Transaction 1: Ngwenya purchased trading stock during the
current year of assessment at a cost of R30 000. This stock was given for no consideration to a homeless shelter. The shelter
is not a registered PBO. The stock had a market value of R45 000.
Transaction 2: Trading stock (speci�c items) were purchased for an amount of R135 000 during the year of assessment. None
of this trading stock were sold and at year-end after the auditors' stock take, these speci�c items had a market value of R70
000.
Which amounts need to be deducted or added in calculating Ngwenya (Pty) Ltd's taxable income for the 2024 year of
assessment with regards to transaction 1 and 2.
a. Transaction 1: R30 000 Transaction 2 R70 000
b. Transaction 1: R30 000 Transaction 2 R135 000
c. Transaction 1: R15 000 Transaction 2 R(65 000)
d. Transaction 1: R15 000 Transaction 2 R(135 000)
The correct answer is: Transaction 1: R15 000 Transaction 2 R(65 000)
Question 3
Incorrect
Mark 0.00 out of 1.00
Bhekisizwe CC is a start-up company established by two sisters. It started trading on 1 July 2023 and have a year of
assessment ending on 29 February 2024. The sisters make bread and crackers which are suitable for diabetics and sell them
at various food markets in the Gauteng region over weekends. They recently started selling their products in a well-known
supermarket. Additional information:
Total receipts for the period from turnover R540 000
Capital receipts (from the sale of equipment not included in total receipts) R28 000
Taxable turnover R554 000
Taxable income R275 300
Assume Bhekisizwe CC quali�es as a micro business. What would its tax liability be for the 2024 year of assessment?
a. R2 730
b. R74 331
c. R2 450
d. RNil
The correct answer is: R2 730
EXAM PACK
, UNISA 2025 TAX2601-25-S2 Assessment
QUIZ
Started on .2142 1/9 ,582302 5
State Finished
Completed on .2142 1/9 ,582302 5
Time taken 1 hour
Marks
out of 100.00
Question 1
Correct
Mark 2.00 out of 2.00
Ngwenya (Pty) Ltd advertises its products on television. It pays a premium once a year. On 1 July 2023 it paid R800 000 for
advertisements that will be aired until 30 June 2024. How much is deductible by Ngwenya (Pty) Ltd in determining it's taxable
income for the year of assessment ended February 2024.
a. R800 000
b. R nil
c. R100 000
d. R533 333
The correct answer is: R800 000
, Ngwenya (Pty) Ltd during the 29 February 2024 year of assessment, had the following two transactions occur which the
�nancial accountant asks you what the tax implications are: Transaction 1: Ngwenya purchased trading stock during the
current year of assessment at a cost of R30 000. This stock was given for no consideration to a homeless shelter. The shelter
is not a registered PBO. The stock had a market value of R45 000.
Transaction 2: Trading stock (speci�c items) were purchased for an amount of R135 000 during the year of assessment. None
of this trading stock were sold and at year-end after the auditors' stock take, these speci�c items had a market value of R70
000.
Which amounts need to be deducted or added in calculating Ngwenya (Pty) Ltd's taxable income for the 2024 year of
assessment with regards to transaction 1 and 2.
a. Transaction 1: R30 000 Transaction 2 R70 000
b. Transaction 1: R30 000 Transaction 2 R135 000
c. Transaction 1: R15 000 Transaction 2 R(65 000)
d. Transaction 1: R15 000 Transaction 2 R(135 000)
The correct answer is: Transaction 1: R15 000 Transaction 2 R(65 000)
Question 3
Incorrect
Mark 0.00 out of 1.00
Bhekisizwe CC is a start-up company established by two sisters. It started trading on 1 July 2023 and have a year of
assessment ending on 29 February 2024. The sisters make bread and crackers which are suitable for diabetics and sell them
at various food markets in the Gauteng region over weekends. They recently started selling their products in a well-known
supermarket. Additional information:
Total receipts for the period from turnover R540 000
Capital receipts (from the sale of equipment not included in total receipts) R28 000
Taxable turnover R554 000
Taxable income R275 300
Assume Bhekisizwe CC quali�es as a micro business. What would its tax liability be for the 2024 year of assessment?
a. R2 730
b. R74 331
c. R2 450
d. RNil
The correct answer is: R2 730
