FAC1503 (May/June) EXAM 2026 | Due June 2026 - Distinction Guaranteed

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Question 1

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Calculate the amount for VAT that is included in the invoice price if equipment to the amount of R44 673,74 (VAT inclusive) were
purchased:
Instructions for numeric response:
1. Please round your answer to the nearest rand (eg: 1000)
2. Only show the amount, do not show the "R" (eg: 1000)




Answer: 5827




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, 11/06/2026, 09:21 FAC1503-Exam May/June 2026 (page 2 of 8)




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Question 2

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If a business has a liability in financial terms, it means that a client owes money to the business.



Select one:
True

False




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