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Exam (elaborations)

fac1501 assignment 01 semester 02 2022

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this document include assignment questions together with its solution. distiction guranteed . 8

Institution
University Of South Africa (Unisa)
Course
Introductory Financial Accounting (FAC1501) (FAC1501)

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7/19/22, 3:08 PM Assessment 1 (page 2 of 2)




 Dashboard Calendar


Dashboard / My courses / FAC1501-22-S2 / Welcome Message / Assessment 1




Question 2

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What will administrative expenses be classified as in the financial statements?




Select one:
a. Assets
b. Income
c. Expenses
d. Liabilities
Clear my choice







https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=4294293&cmid=211996&page=1 1/10

, 7/19/22, 3:08 PM Assessment 1 (page 2 of 2)


Question 3
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 Dashboard Calendar

Financial accounting is a process that involves two activities, namely:
Dashboard / My courses / FAC1501-22-S2 / Welcome Message / Assessment 1
(a) Identification – selecting those events that are evidence of economic activity (transactions) relevant to the particular entity.
(b) Recording the monetary value of the economic events (transactions) so as to provide a permanent history of the financial activities
of the entity.




Select one:
True

False










https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=4294293&cmid=211996&page=1 2/10
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Introductory Financial Accounting (FAC1501) (FAC1501)
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  • fac1501 assignment questions and solution
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