FAC1503 Assignment 6 2026 (Distinction) Due 28 April 2026 (7pm)

4/28/26, 4:02 PM FAC1503-26-S1: Assessment 6




FAC1503-26-S1  FAC1503 - Financial Accounting Principles for L


QUIZ

Assessment 6


Opened: Tuesday, 28 April 2026, 8:00 AM
Closes: Tuesday, 28 April 2026, 7:00 PM



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Submitted Tuesday, 28 April 2026, 4:02 PM




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,4/28/26, 4:01 PM Assessment 6 (page 2 of 9)




FAC1503-26-S1  FAC1503 - Financial Accounting Principles for Law Practitioners  Assessment 6


QUIZ




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Question 2

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Which of the following would not appear in a bank reconciliation statement


a. Bank errors
b. Petty cash expenses
c. Unrecorded Electronic Funds Transfers
d. Outstanding deposits

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, 4/28/26, 4:01 PM Assessment 6 (page 2 of 9)

Question 3

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Which of the following statements is false regarding depreciation?


Select one:
a. It is a loss of value is known as depreciation
b. The loss of value is through wear and tear
c. Depreciation is calculated randomly and not on an agreed method
d. It refers to allocation of the cost of the asset to the financial periods in which the asset is used

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