QUESTION ONE [35] Discuss the Duties of the Audit Committee of a Company. (17) Examine the Role of the Company Secretary. (18) QUESTION TWO [20] Explain how Shareholders exercise their Voting Rights? QUESTION THREE [35] Discuss the Liability of Directors and Prescribed Officers with reference to Section 77 of the Companies Act. (17) Model your understanding of Relief from Oppressive or Prejudicial Conduct in terms […]
Posted: September 12, 2023
Question 1: The following information relates to Stimulus Traders: Balance at 31 December 2012 R Trading inventories on 01 January 2012 15 000 Trading inventories on 31 December 2012 12 000 Inventory of stationary on 31 December 2012 1 500 Sales 166 000 Purchase 90 000 Sales Returns 3 000 Purchases Returns 5 500 Freight on purchases 3 000 Freight on sales 10 000 Import […]
Posted: September 11, 2023
QUESTION ONE [25] Pitso and Steve are partners operating a business Topclass Pro Services. The information that follows is relevant to the business activities of the partnership for the year ended 30 June 2022. Pitso and Steve share in profits and losses in the ratio of 3:2 respectively. Topclass Pro Services Extract of relevant account balances as at 30 June 2022 Debit R Credit […]
Posted: August 30, 2023
QUESTION ONE (40 MARKS) Provide a comprehensive discussion on each of the following terms with applicable examples. (40) I. Assets II. Equity III. Liabilities IV. Income V. Expense QUESTION TWO (50 MARKS) You are provided with information relating to SS Ltd for the year ended 31 December 2023. Trial balance as at 31 December 2023 Debit Credit Capital 4 720 340 Drawings 400 000 […]
Posted: August 30, 2023
Question 1: Q.1.1 For each of the following statements indicate if the statement is true or false. In your answer book you need only write the number of the question and then state true or false. Q.1.1.6 – True. Questions where more than one answer are given will not be marked. True False Q1.1.1 1 Direct deposits are an example of an adjusting difference […]
Posted: August 23, 2023
QUESTION ONE (25 Marks) Jimny Limited is an American based manufacturer of heavy-duty equipment. The company is currently investigating two projects for expansion. It can only undertake one of them and has asked your advice in deciding which one to proceed with. Project A: Production at the existing factory could be expanded. The cost of the new plant for this option would be an initial […]
Posted: August 8, 2023
QUESTION 1 Multi Cakes SdnBhd is involved in selling cakes. You are required to classify the following costs according to their behavior. No. Cost items Fixed cost Variable costs Semi-variable costs Flour Electricity expenses Sugar Salary of baker Salary of cashier Depreciation of […]
Posted: July 22, 2023
The information below applies to Questions 1 to 3, and relates to Sun-Eaze, a sunglass retailer. Bank reconciliation statement of Sun-Eaze as at 31 March Bank reconciliation statement of Sun-Eaze as at 31 March Details Amount Balance per bank statement 144 313 78 Add outstanding deposits No. 571 5 527 50 Less outstanding cheques No. 390 –3 158 58 No. 457 –6 317 16 […]
Posted: May 8, 2023
Question 1 (Marks: 10) Q.1.1 For each of the following statements indicate the word/s that best describes the statement. In your answer booklet you need only write the number of the question with the correct word/s: (5) STATEMENT WORD/S Q.1.1.1 The method of depreciation where the annual depreciation is calculated as a percentage of the carrying value of the asset. […]
Posted: May 3, 2023
QUESTION ONE [85] Maria Jacobs owns a stationery shop, Polka Dots, trading in stationery. The following information needs to be taken into account for the financial year ended 31 December 2022. Polka-Dots uses the Perpetual Inventory Method to record trading stock and is not registered as a VAT vendor. No Transactions that need to be taken into account for the 2022 financial year 1 Posters […]
Posted: April 30, 2023
