02/01/2026, 20:22 FNSACC601 Quiz 1 - review
FNSACC601 Quiz 1 - Income of Minors (Prepare and
administer tax documentation for legal entities) 2026 new
update Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Friday, 2 January 2026, 8:10 PM
State Finished
Completed on Friday, 2 January 2026, 8:21 PM
Time taken 11 mins 25 secs
Marks 20.00/21.00
Grade 95.24 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following taxpayers would be classified as a
Correct 'prescribed person' under Division 6AA?.
Mark 1.00 out of
1.00 Select one:
a. A 15 year old who is disabled and subject to a Carer's
allowance
b. A 17 year old who has left school during May and is currently
unemployed
c. None of the answers are correct
d. An 18 year old engaged in fulltime study
e. A 17 year old engaged in fulltime employment
, 02/01/2026, 20:22 FNSACC601 Quiz 1 - review
Question 2
Which of the following transactions is excepted assessable income
Correct in the hands of a prescribed person?
Mark 1.00 out of
1.00 Select one:
a. Dividends from shares given by the taxpayer's parents
b. An unearned share of income from a partnership
c. Interest from a bank account comprising savings from part-
time wages
d. None of the answers are correct
e. An income distribution from a discretionary trust
Question 3
Which of the following transactions is eligible assessable income in
Correct
the hands of a prescribed person?
Mark 1.00 out of
1.00 Select one:
a. None of the answers are correct
b. An income distribution from a deceased estate
c. Net business income from a small business venture
d. Wages from part-time employment
e. Interest from the reinvestment of income from a deceased
estate
Question 4
A prescribed person is in receipt of unearned investment income of
Correct $25,000. The income tax on this income is calculated at:
Mark 1.00 out of
1.00 Select one:
a. None of the answers are correct
b. Flat rate of 10%
c. Ordinary marginal rates
d. Nil
e. Division 6AA rates
FNSACC601 Quiz 1 - Income of Minors (Prepare and
administer tax documentation for legal entities) 2026 new
update Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Friday, 2 January 2026, 8:10 PM
State Finished
Completed on Friday, 2 January 2026, 8:21 PM
Time taken 11 mins 25 secs
Marks 20.00/21.00
Grade 95.24 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following taxpayers would be classified as a
Correct 'prescribed person' under Division 6AA?.
Mark 1.00 out of
1.00 Select one:
a. A 15 year old who is disabled and subject to a Carer's
allowance
b. A 17 year old who has left school during May and is currently
unemployed
c. None of the answers are correct
d. An 18 year old engaged in fulltime study
e. A 17 year old engaged in fulltime employment
, 02/01/2026, 20:22 FNSACC601 Quiz 1 - review
Question 2
Which of the following transactions is excepted assessable income
Correct in the hands of a prescribed person?
Mark 1.00 out of
1.00 Select one:
a. Dividends from shares given by the taxpayer's parents
b. An unearned share of income from a partnership
c. Interest from a bank account comprising savings from part-
time wages
d. None of the answers are correct
e. An income distribution from a discretionary trust
Question 3
Which of the following transactions is eligible assessable income in
Correct
the hands of a prescribed person?
Mark 1.00 out of
1.00 Select one:
a. None of the answers are correct
b. An income distribution from a deceased estate
c. Net business income from a small business venture
d. Wages from part-time employment
e. Interest from the reinvestment of income from a deceased
estate
Question 4
A prescribed person is in receipt of unearned investment income of
Correct $25,000. The income tax on this income is calculated at:
Mark 1.00 out of
1.00 Select one:
a. None of the answers are correct
b. Flat rate of 10%
c. Ordinary marginal rates
d. Nil
e. Division 6AA rates
