Net realisable value Study guides, Study notes & Summaries
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ICAEW ACA Accounting Exam Questions And Answers (Verified And Updated)
- Exam (elaborations) • 8 pages • 2024
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ICAEW ACA Accounting Exam Questions 
And Answers (Verified And Updated) 
Accounting - answerA way of recording, analysing and summarising transactions of an 
entity. 
Statement of Profit and Loss - answerIt reflects the performance of a business over a period 
of time. 
Statement of Financial Position - answerIt reflects the position of a business at a point in 
time. 
Users of Accounting - answerAny organisation/business/individual who needs to keep track 
of their income, expenses, assets and ...
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FAC1601 Assignment 3 Semester 1 2023 (366858)
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FAC1601 Assignment 3 Semester 1 2023 (366858)FAC1601 Assignment 2 Semester 1 2023/2024 Update 
 
Question 1 
 Which of the following statements is correct: 
1. When revaluing an asset or liability in terms of a change in ownership structure, the current account is used. The current account is then closed off to the accounts of theexisting partners according to their existing profit-sharing ratio. 
2. The selling price of a partnership is determined by the cost price of the partnership. 
3. A ...
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FAC1601 Assignment 3 (DETAILED ANSWERS) Semester 2 2023 - DUE 2 October 2023
- Exam (elaborations) • 26 pages • 2023
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FAC1601 Assignment 3 (DETAILED ANSWERS) Semester 2 2023 - DUE 2 October 2023 100% TRUSTED workings, explanations and solutions. For assistance call or us on +/ 2/ 5/ 4 /7 /7 /9 /5 /4 /0 /1 /3 /2 . 
The following information pertains to The Roses CC and covers questions 1 – 9: David and Patrick are the only members of a Close Corporation trading as The Roses CC (Roses CC). They both have an equal interest of 50% each in the CC. The CC has a 28 February financial year-end. You have been appoint...
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Objective Tests in Financial Accounting Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100 Correct with Explanations, Highly Recommended, Download to Score A+
- Exam (elaborations) • 130 pages • 2023
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Objective Tests in Financial Accounting Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100 Correct with Explanations, Highly Recommended, Download to Score A+ 
CHAPTER ONE 
Components of the Balance Sheet: Assets, Liabilities and Capital 
1.	The balance sheet is intended to show: 
(a)	The nature of the business. 
(b)	The ownership of the business. 
(c)	The financial position of the business. 
(d)	The size of the business. 
 
2.	Categorise the following items as ...
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Curtin University ACCT ACCT 3000 You are an Audit Senior currently planning the 30 June 20X1 audit of Australian Timber Limited (ATL). ATL operates a timber sawmill in Wilga, Western.
- Exam (elaborations) • 4 pages • 2022
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You are an Audit Senior currently planning the 30 June 20X1 audit of Australian Timber 
Limited (ATL). ATL operates a timber sawmill in Wilga, Western Australia. ATL obtains 
its raw materials from a number of local growers and its own plantations. Logs are 
transported on large trucks that are weighed in on the company's weighbridge and 
weighed out after dropping their loads in the storage area. Logs are then debarked and 
sawn to size in the cutting area of the mill. The various logs are the...
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FAC1601 ASSIGNMENT 3 SEMESTER
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FAC1601 
ASSIGNMENT 
3 SEMESTER 
1 2023 
(366858) 
[School] 
[Course title] 
FAC1601 Assignment 3 Semester 1 2023 (366858) 
Due to the high crime rate in South Africa, Thabo and Nandi have a close 
corporation trading as Best Security CC. The services provided by the CC 
include VIP protection, Communitysecurity services, Surveillance monitoring 
and Access control. The close corporation provides services within Gauteng in 
the Sandton Area. The financial period for the CC ends 28February. The 
...
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FAC1601 SUMMARY STUDY NOTES 2022
- Summary • 50 pages • 2022
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FAC1601 
SUMMARY 
STUDY NOTES. FAC1601 - Financial Accounting And Reporting 
The Conceptual Framework for Financial Reporting was issued by the International 
Accounting Standards Board (IASB). This document contains a group of interrelated 
objectives and theoretical principles that serve as a frame of reference for financial 
accounting and more specifically financial reporting. It is not an IFRS. 
Purpose: 
Development of future standards, reducing number of alternative accounting treatments,...
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FAC2601 EXAM PACK LATEST QUESTIONS WITH ANSWERS 2023-2024
- Exam (elaborations) • 140 pages • 2021
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FAC2601 EXAM PACK . FAC2601 - Financial Accounting And Reporting. The following information was extracted from the financial statements of Romans Limited for the year 
ended 31 December 2014: 
EXTRACT FROM THE STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 
DECEMBER 2014: 
2014 2013 
R R 
Profit before tax 1 008 000 358 000 
Income tax expense (408 000) (149 000) 
PROFIT FOR THE YEAR 
OTHER COMPREHENSIVE INCOME 
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 
600 000 209 000 - 
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600 000 209 ...
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MAC3701 ASSIGNMENT 1 SEMESTER 1 2023
- Exam (elaborations) • 37 pages • 2023
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MAC3701 Assignment 1 Semester 1 2023 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on 079 811 9845 . 
 
QUESTION 1 Which one of the following is not a characteristic of activity-based-costing (��ABC”) system? A. Because of the extensive number of cost drivers that must be identified and measured, this costing system can be prohibitively expensive to implement and operate. B. The allocation basis is referred to as ‘cost driver’, as a cause-and-eff...
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MAC2601 EXAM PACK 2023
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MAC2601 
Principles of Management Accounting 
100 Marks 
Duration 2 Hours 
This paper consists of twelve (12) pages (including this page). 
Instructions: 
1. This paper consists of FIVE (5) questions and all five questions must be answered. 
2. Each question attempted, must commence on a new (separate) page. 
3. You may answer the questions in any order, but each answer must be numbered exactly 
the same as the corresponding question. 
4. For questions 1 – 4, all calculations must be show...