Exam (elaborations)
FAC1501 ASSINGMENT 2 SEMESTER 2 DUE ON 14 AUGUST 2023
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This document contains the solutions to fac1501 assignment 2 due on 14 august 2023, 100 pass mark guaranteed.
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Time limit:40 minsGrade to pass: 50.00 out of 100.00
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, Question 1
Answer saved Time left 0:20:10
Marked out of 1.00
In the financial statements, vehicles will be classified as?
Select one:
a. Current assets
b. Non-current liabilities
c. Non-current assets
d. Current liabilities
Clear my choice
Question 2
Answer saved
Marked out of 2.00
SA Electric (registered VAT vendor), needs to charge fees for the amount of R2 625 (including VAT) to the
client account of Mr A South.
What will the total amount be that should be recorded on the invoice before VAT is added?
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
Answer: 2282.61
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