EXCELGATE INSTITUTE 0846244729
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELGATE INSTITUTE 0846244729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELGATE should
not be rendered accountable since the contents in this document only give learners a
kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENTS.
Education is the most powerful weapon which you can use to change the world
, 3/20/25, 8:16 PM Assessment 1: Attempt review
FAC3702-25-S1 Welcome Message Assessment 1
QUIZ
Started on Thursday, 20 March 2025, 7:41 PM
State Finished
Completed on Thursday, 20 March 2025, 8:16 PM
Time taken 34 mins 23 secs
Question 1
Complete
Marked out of 1.00
An asset was purchased for R500,000 with an estimated useful life of 10 years
and a residual value of R50,000. After 3 years, the company revises its useful
life to 8 years (from the date of purchase) and residual value to R40,000. What
is the new annual depreciation charge (straight-line)?
a. R40 625
b. R65 000
c. R57 500
d. R92 000
Question 2
Complete
Marked out of 1.00
An entity acquires a license to use a patented technology for five years at a
cost of R 1 million. How should this cost be accounted for under IAS 38?
a. Recognize the cost as an intangible asset and amortize it over five
years.
b. Expense the cost immediately, as patents are internally generated.
c. Recognize the cost as goodwill.
d. Only recognize the cost as an asset if it generates immediate revenue.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=24843076&cmid=1071376 1/9
PU E
SHI
NG Y L E NC
OU TO THE GATE OF EXC EL
Education is the most powerful weapon which you can use to change the world
,EXCELGATE INSTITUTE 0846244729
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore students must use this document ONLY as a guideline. Hence
students have regenerated their own (personalized) solutions paying particular
attention to module contents as prescribed by module facilitators, lecturers and
supervisors. This document’s purpose is to compact all sources of information that
might be relevant to students’ assignments, hence additional knowledge on the
provided information is not restricted by the authors. However, submitting this
document as one’s final work is considered unethical, and students should be
penalized. If this document is plagiarized by the users and fails, EXCELGATE should
not be rendered accountable since the contents in this document only give learners a
kick-start on what is expected of them from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE EVERY DETAIL IN THIS
DOCUMENT IN WRITING THEIR ASSIGNMENTS.
Education is the most powerful weapon which you can use to change the world
, 3/20/25, 8:16 PM Assessment 1: Attempt review
FAC3702-25-S1 Welcome Message Assessment 1
QUIZ
Started on Thursday, 20 March 2025, 7:41 PM
State Finished
Completed on Thursday, 20 March 2025, 8:16 PM
Time taken 34 mins 23 secs
Question 1
Complete
Marked out of 1.00
An asset was purchased for R500,000 with an estimated useful life of 10 years
and a residual value of R50,000. After 3 years, the company revises its useful
life to 8 years (from the date of purchase) and residual value to R40,000. What
is the new annual depreciation charge (straight-line)?
a. R40 625
b. R65 000
c. R57 500
d. R92 000
Question 2
Complete
Marked out of 1.00
An entity acquires a license to use a patented technology for five years at a
cost of R 1 million. How should this cost be accounted for under IAS 38?
a. Recognize the cost as an intangible asset and amortize it over five
years.
b. Expense the cost immediately, as patents are internally generated.
c. Recognize the cost as goodwill.
d. Only recognize the cost as an asset if it generates immediate revenue.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=24843076&cmid=1071376 1/9
