Net realisable value Study guides, Study notes & Summaries
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FAC1601 Assignment 2 Semester 1 2023/2024 Update
- Exam (elaborations) • 22 pages • 2023
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FAC1601 Assignment 2 Semester 1 2023/2024 Update 
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. 
...
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MAC3701 Assignment 2 Semester 2 2023
- Exam (elaborations) • 20 pages • 2023 Popular
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MAC3701 Assignment 2 Semester 2 2023 - DUE 11 September 2023 @ 10 pm CAT 100% TRUSTED workings, explanations and solutions. For assistance call or Whatsapp us on +25477 954 0132 . 
QUESTION 1 100 Marks 
Monate (Pty) Ltd (“Monate”) operates a sugar mill and refinery in Vanderbijlpark, Gauteng. The company 
is owned by the Ntsane siblings. The company uses the direct costing method for inventory valuation 
and values all its inventories using the first-in-first-out (FIFO) method. The compa...
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FAC1601 Assignment 1 2023 solutions semester 1
- Other • 23 pages • 2023
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100% SOLUTIONS FOR FAC1601 
 
QUESTIONS ANSWERED 
 
Which of the following statements is correct: 1. A liability is a future obligation of a reporting entity to transfer an economic resource as a result of a past event. 2. The accounting equation is: Liabilities + Assets = equity 3. The value of a reporting entity lies in the net assets (assets minus liabilities) under its control. 4. Equity is the residual interest in the assets of the entity after deducting all the expenses.Question text The d...
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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-effec...
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FAC1601 Assignment 2 Semester 1 2023 (366856)
- Exam (elaborations) • 22 pages • 2023
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FAC1601 Assignment 2 Semester 1 2023 () 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . 
Which of the following statements is correct: 1. W hen 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 cos...
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FAC1602 EXAM PACK 2023
- Exam (elaborations) • 188 pages • 2023
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Introduction and overview of the module ......................................................... ii 
LEARNING UNIT 1 
Introduction to the preparation of financial statements .......................... 1 
LEARNING UNIT 2 
Financial statements of a sole proprietorship ........................................ 24 
LEARNING UNIT 3 
Establishment and financial statements of a partnership ...................... 46 
LEARNING UNIT 4 
Changes in the ownership structure of partnerships ..............
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FAC2601 EXAM PACK 2022
- Exam (elaborations) • 172 pages • 2022
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FAC2601 EXAM PACK 2022. 
FAC2601 - Financial Accounting And Reporting 
The following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 
31 October 2020: 
Ordinary share capital (shares issued at R2.30 each) R1 265 000 
Proceeds of ordinary shares issued on 30 June 2020 R 540 000 
(Shares issued at R2.70 each) 
The following decision was taken and has not yet been recorded in the accounting records of 
Vusi Ltd as at 31 October 2020: 
The directors decided on a cap...
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Test Bank For FINANCIAL REPORTING By LOFTUS, LEO
- Exam (elaborations) • 397 pages • 2023
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Testbank 
 
to accompany 
 
Financial Reporting 
 
by 
Loftus et al 
 
 
 
 
 
 
 
 
© John Wiley & Sons Australia, Ltd 2016 
 
 
 
Chapter 3: 
Fair value measurement 
 
 
 
 
Multiple Choice Questions 
	 
 
1) Which of the following is not one of the key reasons given by the IASB for issuing a standard on fair value measurement: 
 
a) To establish a single source of guidance for all fair value measurements required or permitted by IFRSs to reduce complexity and improve consistency in thei...
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FAC1601 Assignment 2 Semester 1 2023/2024 Update
- Exam (elaborations) • 22 pages • 2023
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FAC1601 Assignment 2 Semester 1 2023/2024 UpdateFAC1601 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....
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FAC1601 Assignment 3 Semester 1 2023 (366858)
- Exam (elaborations) • 17 pages • 2023
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- R66,29
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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...
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