9/27/23, 11:36 AM Assessment 3: Attempt review
MENU
Started on Wednesday, 27 February 2024, 11:00 AM
State Finished
Completed on Wednesday, 27 February 2024, 11:18 AM
Time taken 20 mins 8 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 2.00 out of 2.00
You are the audit senior assigned to the audit of Fix-IT Ltd, a motor vehicle spares company. You obtain an understanding of the ordering
function within the revenue and receipts cycle at Fix-IT Ltd. All orders are captured by the debtors' clerk who will input the order on the
revenue system by creating an internal sales order and capturing the order details. Which one of the following programme controls should
be implemented to ensure that the order quantity is accurate before processing the order?
a. Alpha numeric check
b. Limit check
c. Mandatory fields check.
d. Validation check
Your answer is correct.
The correct answer is:
Limit check
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=171333&cmid=70260#question-172289-5 1/9
,9/27/23, 10:35 AM Assessment 3: Attempt review
Question 2
Correct
Mark 1.00 out of 1.00
Gunn&Moore manufactures cricket bats
at one of its plants. The xed cost
amounts to R1 600 000 per annum. The
bats are sold at R400 each and the
variable cost per unit amounts to R150.
The break-even point of this plant is
____________ units.
Select one:
a. 2 909
b. 2 300
c. 4 000
d. 6 400
The correct answer is: 6 400
Question 3
Correct
Mark 1.00 out of 1.00
The pro t IBM would attribute to ordinary
shareholders would be listed on the
________________________.
Select one:
a. statement of nancial
performance
b. statement of nancial position
c. funds- ow statement
d. It would not be listed
The correct answer is: statement of
nancial performance
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 2/18
,9/27/23, 10:35 AM Assessment 3: Attempt review
Question 4
Correct
Mark 1.00 out of 1.00
_________________ is the ability of the
business to satisfy its short-term
obligations as they become due.
Select one:
a. Solvency
b. Liquidity
c. Pro tability
d. Currency
The correct answer is: Liquidity
Question 5
Correct
Mark 1.00 out of 1.00
Rapula is the nancial manager of Plastic
Fantastic, a plastic container
manufacturer. While doing the nancial
statements, Rapula needs to calculate
the shareholders’ interest in Plastic
Fantastic. Which one of the following
items will contribute to shareholders’
interest?
Select one:
a. Sales
b. Reserves
c. Trade creditors
d. Marketable securities
The correct answer is: Reserves
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 3/18
, 9/27/23, 10:35 AM Assessment 3: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
The process for the calculation of future
values is known as _____________ while
the process for the calculation of present
values is known as ____________ .
Select one:
a. discounting; compounding
b. compounding; depreciating
c. compounding; discounting
d. discounting; depreciating
The correct answer is: compounding;
discounting
Question 7
Correct
Mark 1.00 out of 1.00
Kabelo and Hendrik are joint owners of
Fitness Gym. They are currently
investigating the option of investing in
cryotherapy, a cold therapy that may
reduce in ammation in tendons or joints.
After much planning and deliberation,
Kabelo and Hendrik decides to base their
decision on investing in cryotherapy on
the net present value of the investment
they would have to make in order to
purchase the cryotherapy equipment for
Fitness gym. Their calculations determine
that the NPV for the cryotherapy
equipment is R365 234. This means that
Kabelo and Hendrik must ______________ .
Select one:
a. contact a business consultant to
assist with better decision-
making criteria
b. reject the project and develop a
new proposal
c. accept the project and install
the new equipment as soon
as possible
d. delay their decision until more
information becomes available
The correct answer is: accept the project
and install the new equipment as soon as
possible
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 4/18
MENU
Started on Wednesday, 27 February 2024, 11:00 AM
State Finished
Completed on Wednesday, 27 February 2024, 11:18 AM
Time taken 20 mins 8 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 2.00 out of 2.00
You are the audit senior assigned to the audit of Fix-IT Ltd, a motor vehicle spares company. You obtain an understanding of the ordering
function within the revenue and receipts cycle at Fix-IT Ltd. All orders are captured by the debtors' clerk who will input the order on the
revenue system by creating an internal sales order and capturing the order details. Which one of the following programme controls should
be implemented to ensure that the order quantity is accurate before processing the order?
a. Alpha numeric check
b. Limit check
c. Mandatory fields check.
d. Validation check
Your answer is correct.
The correct answer is:
Limit check
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=171333&cmid=70260#question-172289-5 1/9
,9/27/23, 10:35 AM Assessment 3: Attempt review
Question 2
Correct
Mark 1.00 out of 1.00
Gunn&Moore manufactures cricket bats
at one of its plants. The xed cost
amounts to R1 600 000 per annum. The
bats are sold at R400 each and the
variable cost per unit amounts to R150.
The break-even point of this plant is
____________ units.
Select one:
a. 2 909
b. 2 300
c. 4 000
d. 6 400
The correct answer is: 6 400
Question 3
Correct
Mark 1.00 out of 1.00
The pro t IBM would attribute to ordinary
shareholders would be listed on the
________________________.
Select one:
a. statement of nancial
performance
b. statement of nancial position
c. funds- ow statement
d. It would not be listed
The correct answer is: statement of
nancial performance
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 2/18
,9/27/23, 10:35 AM Assessment 3: Attempt review
Question 4
Correct
Mark 1.00 out of 1.00
_________________ is the ability of the
business to satisfy its short-term
obligations as they become due.
Select one:
a. Solvency
b. Liquidity
c. Pro tability
d. Currency
The correct answer is: Liquidity
Question 5
Correct
Mark 1.00 out of 1.00
Rapula is the nancial manager of Plastic
Fantastic, a plastic container
manufacturer. While doing the nancial
statements, Rapula needs to calculate
the shareholders’ interest in Plastic
Fantastic. Which one of the following
items will contribute to shareholders’
interest?
Select one:
a. Sales
b. Reserves
c. Trade creditors
d. Marketable securities
The correct answer is: Reserves
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 3/18
, 9/27/23, 10:35 AM Assessment 3: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
The process for the calculation of future
values is known as _____________ while
the process for the calculation of present
values is known as ____________ .
Select one:
a. discounting; compounding
b. compounding; depreciating
c. compounding; discounting
d. discounting; depreciating
The correct answer is: compounding;
discounting
Question 7
Correct
Mark 1.00 out of 1.00
Kabelo and Hendrik are joint owners of
Fitness Gym. They are currently
investigating the option of investing in
cryotherapy, a cold therapy that may
reduce in ammation in tendons or joints.
After much planning and deliberation,
Kabelo and Hendrik decides to base their
decision on investing in cryotherapy on
the net present value of the investment
they would have to make in order to
purchase the cryotherapy equipment for
Fitness gym. Their calculations determine
that the NPV for the cryotherapy
equipment is R365 234. This means that
Kabelo and Hendrik must ______________ .
Select one:
a. contact a business consultant to
assist with better decision-
making criteria
b. reject the project and develop a
new proposal
c. accept the project and install
the new equipment as soon
as possible
d. delay their decision until more
information becomes available
The correct answer is: accept the project
and install the new equipment as soon as
possible
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13744220&cmid=624789 4/18
