AUE 1501 MAY/JUNE 2016 MEMO
INSTITUTION: UNISA
COLLEGE: UNICALCULUS
MODULE CODE: AUE 1501
MAY/JUNE 2016 MEMO
QUESTION 1
1.1. False
1.2. False
1.3. True
1.4. False
1.5. False
QUESTION 2
Number Agree or disagree Reason
2.1. Agree Life of the business is perpetual,
that is, it continues
uninterrupted
as shareholders change
2.2. Disagree For a private company to be
subject for an audit, it must
have a public interest score of
350 or more.
2.3. Disagree The financial statements must
be prepared and published 6
months after year end.
2.4. Disagree It is subject to many legal
Requirements.
2.5. Disagree A director can be held liable for
debts incurred by the company
as a result of his/her reckless
decision making or if he/she did
not act in the best interest of
the company.
2.6. Disagree It is applicable in every
organization: both private and
public organization.
INSTITUTION: UNISA
COLLEGE: UNICALCULUS
MODULE CODE: AUE 1501
MAY/JUNE 2016 MEMO
QUESTION 1
1.1. False
1.2. False
1.3. True
1.4. False
1.5. False
QUESTION 2
Number Agree or disagree Reason
2.1. Agree Life of the business is perpetual,
that is, it continues
uninterrupted
as shareholders change
2.2. Disagree For a private company to be
subject for an audit, it must
have a public interest score of
350 or more.
2.3. Disagree The financial statements must
be prepared and published 6
months after year end.
2.4. Disagree It is subject to many legal
Requirements.
2.5. Disagree A director can be held liable for
debts incurred by the company
as a result of his/her reckless
decision making or if he/she did
not act in the best interest of
the company.
2.6. Disagree It is applicable in every
organization: both private and
public organization.
