Question 12 5 Points A sales invoice is issued with a total value of 300 (inclusive of 20% VAT). The net (before VAT value, therefore, is: 350 B E240 E260 250 Question 13 5 Points A business has a capital account balance of 30,000 (credit) and liabilities of 15,000. How much they have assets? 45,000 B 35,000 40,000 50,000 Question 10 5 Points A review of the year end accounts of a business revealed goods with a cost value of 450. posted to the purchases account were actually taken for the private use of the business owner. The journal required to make the appropriate adjustment is: Debit - Purchases a/c (15) - 450: Credit - Drawings a/c (SOFP) - 450 B Debit - Drawings a/c (SOFP) - 450: Credit - Purchases a/c (1S) - 450 Debit - Drawings a/c (SOFP) - 450: Debit. Purchases a/c (IS) - 450 Debit - Purchases a/c (15) - 450: Credit - Drawings a/c (SOFP) - 450 5 Points Question 11 Complete the gaps in the following statement The IFRS Foundation's Mission Statement states: 'Our mission is to develop International Financial Reporting Standards that bring accountability and efficiency to financial markets around the world. Our work serves the interest by fostering trust, growth and long-term financial stability in the global economy. A stability, government B accuracy, companies' reliability, organisations transparency, public