Fac2601 Assignment 1 Semester 1 2026 Whsatpp All questions covered

Assessment 1 - 18 March 2026 (12:00 - 21:00) (page 1 of 4) https://cas.myexams.unisa.ac.za/mod/quiz/attempt.php?attempt=4177...


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Question 1
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Information that needs to be disclosed in the annual financial statements regarding the remuneration of directors and prescribed
officers is detailed in section 30(4) of the Companies Act, No 71 of 2008. A prescribed officer is any person that exercise general
executive control over, and management of, the whole or a significant portion of the business and activities of the company or regularly
participate to a material degree therein.
Required:

Which is not an example of a prescribed officer?




1. Chief financial officer

2. Chief executive officer
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3. Regional manager 22 5 26 24 4 66 1 21 65
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4. Non-executive director

Clear my choice




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Question 2
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Protus Ltd underwrites 65% of an issue of 500 000 ordinary shares at R8 each in Lexis Ltd. The underwriting commission is 5% and the
Dashboard / My courses / FAC2601-26-S1 / Welcome Message / Assessment 1 - 18 March 2026 (12:00 - 21:00)
public takes up 250 000 shares.
Required:

Calculate the commission payable to Protus Ltd?



1. R230 000

2. R250 000

3. R130 000

4. R320 000

Clear my choice




Question 3
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Mngxongo Ltd was a state-owned company (as defined by the Public Finance Management Act (PFMA) that provided electricity. During
the current financial year ending 31 December 2023, Mngxongo Ltd was privatised.
The company has a Public Interest Score of 250 and its annual financial statements are being compiled independently.

Required:
The entity is classified as:




1. Personal liability company;

2. State Owned Company (SOC).

3. Non-profit company;

4. Public company not listed on an exchange;

Clear my choice




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Question 4
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Logi Ltd underwrites 60% of an issue of 2 000 000 ordinary shares at R5 each in Gelmar Ltd. The underwriting commission is 5% and the
Dashboard / My courses / FAC2601-26-S1 / Welcome Message / Assessment 1 - 18 March 2026 (12:00 - 21:00)
public takes up 1 150 000 shares.
Required:

Which one of the following amounts will be the liability of the underwriter?



1. R2 550 000

2. R3 850 000

3. R2 250 000

4. R4 250 000

Clear my choice




Question 5
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Both the managing director and regional manager of Zimba Ltd have the benefit of the use of company cars which may also be used
for private purposes.
The total benefit for the use per motor vehicle is estimated to be R550 000 per year for each director, of which 55% is for private use
and 45% for business purposes.

Required:
The total amount that should be disclosed in remuneration as other benefits should be:




1. R350 000
2. R605 000

3. R302 500

4. R750 000

Clear my choice




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