fac2601 assessment 1 semester 2

Started on Tuesday, 26 August 2025, 2:15 PM
State Finished
Completed on Tuesday, 26 August 2025, 4:14 PM
Time taken 70 mins 35 secs
Question 1
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Why is it necessary to prepare consolidated financial statements for a group of
companies?

1.
To comply with the subsidiary’s legal obligation to prepare financial statements
for external users.




2.
To comply with the parent’s legal obligation to prepare financial statements for
external users.




3.
To ensure that all inter-company transactions are included in the group’s reported
profit.




4.

,To present the financial position and performance of the parent and subsidiary as
a single economic entity.
Question 2
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At what amount will the Loan from Oozma Limited be disclosed in the
consolidated statement of financial position 31 December 2025:

1.
RNil or zero

2.
R40 000

3.
R10 000


4.
R20 000
Question 3
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Which of the following best describes the type of group formed by Oozma Ltd
and Kapa Ltd, based on Oozma's 80% shareholding?

1.
Complex group (horizontally).


2.
Simple group

3.
Complex group (vertically)


4.
Neither simple nor complex, as it is a single-subsidiary, partly-owned structure
Question 4
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