12:43 A *4/5-14.A statement prepared to provide information on the financial performance, financiaI position and the cash flows of a business entity is known as?L15. State all the elements of financial statements.16. The proceeds of money received from the owner as result of an additional investment into an existing business is tem asexpenditure17.--- is the expenditure incurred to acquire, manufacture, or improve assets for the purpose of eaming income over time in an organisation.18. List down the two types of receipts19. state the two types of expenditures20.they are properties acquired to be used in a business organisation for a period more than one year.21. According to IAS, 16-is defined as the systematic allocation of the depreciable amount of an asset over its useful life.22. According to your lecture slides, state the causes of depreciation 12:43 A202". (0) lil B/s5/519. state the two types of expenditures20.they are properties acquired to be used in a business organisation for a period more than one year.is defined as the systematic alloca21. According to IAS, 16-tion of the depreciable amount of an asset over its useful life.22. According to your lecture slides, statethe causes of depreciation23. Different methods are applied based on the type of asset and usage, or based on the different assumptions that are made, state any six (6) depreciation methods applicable in depreciating non-current assets.(60 Answers @ 1/3 mark per Answer = 2O Marks)

Financial statements:Financial statements are written documents that communicate the business…

12:43 A O O ((0)) l B/S 4/5- 14. A statement prepared to provide information on the financial performance, financia I position and the cash flows of a business entity is known as? 15. State all the elements of financial statements. 16. The proceeds of money received from the owner as result of an additional investmen t into an existing business is tem as expenditure 17. -is the expenditure incurred to acquire, manufacture, or impro ve assets for the purpose of eaming income over time in an organisation. 18. List down the two types of receipts 19. state the two types of expenditures 20. ation for a period more than one year. they are properties acquired to be used in a business organis -is defined as the systematic alloca 21. According to IAS, 16 tion of the depreciable amount of an asset over its useful life. 22. According to your lecture slides, statethe causes of depreciation

12:43 A O O ((0)) l B/S 4/5- 14. A statement prepared to provide information on the financial performance, financia I position and the cash flows of a business entity is known as? 15. State all the elements of financial statements. 16. The proceeds of money received from the owner as result of an additional investmen t into an existing business is tem as expenditure 17. -is the expenditure incurred to acquire, manufacture, or impro ve assets for the purpose of eaming income over time in an organisation. 18. List down the two types of receipts 19. state the two types of expenditures 20. ation for a period more than one year. they are properties acquired to be used in a business organis -is defined as the systematic alloca 21. According to IAS, 16 tion of the depreciable amount of an asset over its useful life. 22. According to your lecture slides, statethe causes of depreciation

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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