3/19/26, 1:07 PM 4 2 425 1 5 6 2 Assessment 1: Attempt review
440 714 6 4 7 55
7 4 6
Dashboard Calendar
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
Started on Thursday, 19 March 2026, 12:27 PM
State Finished
Completed on Thursday, 19 March 2026, 1:07 PM
Time taken 39 mins 45 secs
Question 1
Complete
Marked out of 1
How should Elsie Ltd's R270 000 profit for the financial year 2026 be apportioned between the pre-acquisition (1 January- 30 June)
and post-acquisition (1 July - 31 December periods for consolidation purposes, assuming it was earned evenly?
1. Pre-acquisition R112 500, Post-acquisition R157 500
4 2 425 1 5 6 2
2. Pre-acquisition R0, Post-acquisition R270 000. 440 714 6 4 7 55
7 4 6
3. 4 2 425 1 5 6 2
Pre-acquisition R135 000, Post-acquisition R135 000. 440 714 6 4 7 55
7 4 6
4. Pre-acquisition R270 000, Post-acquisition R0.
Question 2
Complete
Marked out of 1
What does retained earnings in the Kholiswa Limited Group consolidated statement of financial position at 31 December 2026 amount
to:
1. R842 500
2. R901 250 4 2 425 1 5 6 2
3. R962 500 440 714 6 4 7 55
7 4 6
4. R1 118 750
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 1/15
,3/19/26, 1:07 PM Assessment 1: Attempt review
Question 3
Complete
Marked out of 1
Dashboard Calendar
If Elsie Ltd was a wholly-owned subsidiary acquired on 1 January 2026, and the consolidated financial statements were prepared for 31
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
December 2026, what would be the treatment of Elsie Ltd 's R270 000 profit for the year in the consolidated statement of profit or
loss?
1. The entire R270 000 profit for the year would be eliminated
2.
The composition of R270 000 would be fully included, line by line item in the group's statement of profit or loss.
3. The R270 000 would be allocated only to Kholiswa Ltd.
4. It would be shown as a separate line item, "Subsidiary Profit" in the consolidated statement of profit or loss.
Question 4
Complete
Marked out of 1
The Cash and cash equivalents in the consolidated statement of financial position amounts to:
1. Cash and cash equivalents, R92 500
2. Cash and cash equivalents, RNil 4 2 425 1 5 6 2
440 714 6 4 7 55
7 4 6
3.
Cash and cash equivalents, R22 500
4. Cash and cash equivalent, R70 000
Question 5
Complete
Marked out of 1
Assuming Kholiswa Limited acquired Elsie Limited for a consideration of R466 875, what does the Goodwill in the consolidated
statement at 31 December 2026 of financial position amount to:
1. RNil
2. R62 250
3. R155 625
4. R333 125
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 2/15
,3/19/26, 1:07 PM Assessment 1: Attempt review
Question 6
Complete
Marked out of 1
Dashboard Calendar
Which of the following best describes the type of group formed by Kholiswa Ltd and Elsie Ltd, based on Kholiswa's 75% shareholding?
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
1. Complex group (vertically)
2. Neither simple nor complex, as it is a single-subsidiary, partly-owned structure
3. Simple group
4. Complex group (horizontally).
Question 7
Complete
Marked out of 1
What is the primary purpose of non-controlling interest in consolidated financial statements?
1. To represent the portion of subsidiary’s equity and profits that belong to external shareholders without control of the company.
2. To report the parent company’s total ownership in the group
3. To eliminate internal transactions between the parent and subsidiary.
4. To simplify the consolidation process by combining all assets and liabilities..
Question 8
Complete
Marked out of 1
Assuming that all assets and liabilities of Elsie Ltd were considered to be at their fair value at the date of acquisition, what is the non-
controlling interest amount at date of acquisition in 2026:
1. R270 000
2. R88 125
3. R67 500
4. R155 625
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 3/15
, 3/19/26, 1:07 PM Assessment 1: Attempt review
Question 9
Complete
Marked out of 1
Dashboard Calendar
Assuming Kholiswa Limited acquired 60% of shares in Elsie Limited, what is the value of the non-controlling interests (NCI) at the
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
acquisition date (1 July 2026)?
1. R249 000
2. R155 625
3. R249 000
4. R373 500
Question 10
Complete
Marked out of 1
Assuming Kholiswa Limited acquired 80 000 shares in Elsie Limited at acquisition, what is the Goodwill in the consolidated statement
at 31 December 2026 of financial position amounts to:
1. RNil
2. R151 000
3. R333 125
4. R302 000
Question 11
Complete
Marked out of 1
Why is the investment in a subsidiary eliminated during consolidation?
1. To simplify the consolidation process.
2. To avoid double counting the subsidiarys net assets.
3. To increase the parent companys reported assets.
4. To recognize the parent companys full ownership in the subsidiary.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 4/15
440 714 6 4 7 55
7 4 6
Dashboard Calendar
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
Started on Thursday, 19 March 2026, 12:27 PM
State Finished
Completed on Thursday, 19 March 2026, 1:07 PM
Time taken 39 mins 45 secs
Question 1
Complete
Marked out of 1
How should Elsie Ltd's R270 000 profit for the financial year 2026 be apportioned between the pre-acquisition (1 January- 30 June)
and post-acquisition (1 July - 31 December periods for consolidation purposes, assuming it was earned evenly?
1. Pre-acquisition R112 500, Post-acquisition R157 500
4 2 425 1 5 6 2
2. Pre-acquisition R0, Post-acquisition R270 000. 440 714 6 4 7 55
7 4 6
3. 4 2 425 1 5 6 2
Pre-acquisition R135 000, Post-acquisition R135 000. 440 714 6 4 7 55
7 4 6
4. Pre-acquisition R270 000, Post-acquisition R0.
Question 2
Complete
Marked out of 1
What does retained earnings in the Kholiswa Limited Group consolidated statement of financial position at 31 December 2026 amount
to:
1. R842 500
2. R901 250 4 2 425 1 5 6 2
3. R962 500 440 714 6 4 7 55
7 4 6
4. R1 118 750
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 1/15
,3/19/26, 1:07 PM Assessment 1: Attempt review
Question 3
Complete
Marked out of 1
Dashboard Calendar
If Elsie Ltd was a wholly-owned subsidiary acquired on 1 January 2026, and the consolidated financial statements were prepared for 31
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
December 2026, what would be the treatment of Elsie Ltd 's R270 000 profit for the year in the consolidated statement of profit or
loss?
1. The entire R270 000 profit for the year would be eliminated
2.
The composition of R270 000 would be fully included, line by line item in the group's statement of profit or loss.
3. The R270 000 would be allocated only to Kholiswa Ltd.
4. It would be shown as a separate line item, "Subsidiary Profit" in the consolidated statement of profit or loss.
Question 4
Complete
Marked out of 1
The Cash and cash equivalents in the consolidated statement of financial position amounts to:
1. Cash and cash equivalents, R92 500
2. Cash and cash equivalents, RNil 4 2 425 1 5 6 2
440 714 6 4 7 55
7 4 6
3.
Cash and cash equivalents, R22 500
4. Cash and cash equivalent, R70 000
Question 5
Complete
Marked out of 1
Assuming Kholiswa Limited acquired Elsie Limited for a consideration of R466 875, what does the Goodwill in the consolidated
statement at 31 December 2026 of financial position amount to:
1. RNil
2. R62 250
3. R155 625
4. R333 125
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 2/15
,3/19/26, 1:07 PM Assessment 1: Attempt review
Question 6
Complete
Marked out of 1
Dashboard Calendar
Which of the following best describes the type of group formed by Kholiswa Ltd and Elsie Ltd, based on Kholiswa's 75% shareholding?
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
1. Complex group (vertically)
2. Neither simple nor complex, as it is a single-subsidiary, partly-owned structure
3. Simple group
4. Complex group (horizontally).
Question 7
Complete
Marked out of 1
What is the primary purpose of non-controlling interest in consolidated financial statements?
1. To represent the portion of subsidiary’s equity and profits that belong to external shareholders without control of the company.
2. To report the parent company’s total ownership in the group
3. To eliminate internal transactions between the parent and subsidiary.
4. To simplify the consolidation process by combining all assets and liabilities..
Question 8
Complete
Marked out of 1
Assuming that all assets and liabilities of Elsie Ltd were considered to be at their fair value at the date of acquisition, what is the non-
controlling interest amount at date of acquisition in 2026:
1. R270 000
2. R88 125
3. R67 500
4. R155 625
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 3/15
, 3/19/26, 1:07 PM Assessment 1: Attempt review
Question 9
Complete
Marked out of 1
Dashboard Calendar
Assuming Kholiswa Limited acquired 60% of shares in Elsie Limited, what is the value of the non-controlling interests (NCI) at the
Dashboard / My courses / FAC2602-26-S1 / Welcome Message / Assessment 1
acquisition date (1 July 2026)?
1. R249 000
2. R155 625
3. R249 000
4. R373 500
Question 10
Complete
Marked out of 1
Assuming Kholiswa Limited acquired 80 000 shares in Elsie Limited at acquisition, what is the Goodwill in the consolidated statement
at 31 December 2026 of financial position amounts to:
1. RNil
2. R151 000
3. R333 125
4. R302 000
Question 11
Complete
Marked out of 1
Why is the investment in a subsidiary eliminated during consolidation?
1. To simplify the consolidation process.
2. To avoid double counting the subsidiarys net assets.
3. To increase the parent companys reported assets.
4. To recognize the parent companys full ownership in the subsidiary.
https://cas.myexams.unisa.ac.za/mod/quiz/review.php?attempt=425119&cmid=72652 4/15
