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FAC1502-25-S2
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An entity has the following balances: Capital: R11 980; Equipment: R15 780; Furniture: R5 680; Cash float: R1 950.
The total liabilities of the entity according to the basic accounting equation is …
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
An entity has the following balances: Bank: R3 240; Vehicles: R12 560; Trade receivables: R2 330; Capital: R14 550.
What will the liability amount be according to the basic accounting equation?
NB: Instructions
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Only show the amount, do not show the R (eg: 12141.72)
Indicate by choosing the correct option whether the following statement is true or false:
The accounting policies that an entity will apply in the current financial year will not be disclosed as notes to the financial statements.
Elective Assessment 5 will be available on the exam site on ___ October 2025.