Question 5 of 20

Which one of the following users will use accounting information to assess the contribution of the entity to the economy and the creation of work opportunities?

• A. Lenders
• B. The public
• C. Clients
• D. Employees
• E. Government

Question 17

McAvoy Weavers purchased a second-hand grinding machine from a competitor who has gone bankrupt. McAvoy Weavers will incur the following costs:

1. Agreed price paid to vendor, R16 000
2. Transportation of machine to James McAvoy Factory, R550
3. Installation costs, R1 300

The total cost to be disclosed in respect of the machine in the note for property, plant and equipment will be?

• A. R1 850
• B. R16 550
• C. R17 300
• D. R17 850
• E. R16 000