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FAC1503 ASSIGNMENT 8 FOR 2024 EXPECTED QUESTIONS AND ANSWERS $2.82   Add to cart
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FAC1503 ASSIGNMENT 8 FOR 2024 EXPECTED QUESTIONS AND ANSWERS

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  • Course
  • FAC1503 (FAC1503)
  • Institution
  • University Of South Africa (Unisa)

Question 2 Not yet answered Marked out of 1.00 Flag question Question text The following information was obtained from the accounting records of SA Attorneys: On 1 April 2022, A South, a client of the practice, handed a cheque to the amount of R100 000 to Mr Africa and requested him to invest t...

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Document information

  • April 24, 2024
  • 20
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • 2024

Written for

  • University of South Africa (Unisa)
  • FAC1503 (FAC1503)
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By: nokwandapntanzi • 6 months ago

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FAC1503
ASSIGNMENT 8 FOR 2024




FEND TUTORIALS

, Please note that the questions may
differ per student and therefore this
document can be used as a guideline. If
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charged at a different fee. Contact us
+2763 173 8181




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, Question 2
Not yet answered
Marked out of 1.00

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Question text
The following information was obtained from the accounting records of SA Attorneys:
On 1 April 2022, A South, a client of the practice, handed a cheque to the amount of R100 000 to Mr
Africa and requested him to invest the money in a fixed deposit account at ABC Bank until the money is
paid over for a property transaction.
Which one of the following statements is incorrect for the above type of investment?
Select one:

a.
The name of the trust investment account in the trust creditors ledger must also include a reference to the
specific section of the legislation.


b.
The investment should be made with banks with which the Legal Practitioners Fidelity Fund has entered
into an arrangement.


c.
95% of the interest accrued on the above money must be paid over to A South.


d.
5% of the interest accrued on money in terms of the applicable section must be paid over to SA Attorneys.

Clear my choice

Question 3
Not yet answered
Marked out of 1.00



Whatsapp Marlvin @ +2763 173 8181

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