SAIPA PE Practice Questions - SAIPA Professional Evaluation (PE) Exam - SAIPA PE Practice Questions

Question 1

Under IFRS for SMEs Section 13 (Inventories), how should inventory be measured at the reporting date?

At the lower of cost and estimated selling price less costs to complete and sell At historical cost regardless of market value declines At fair value through profit or loss At replacement cost plus 20% margin

Correct Answer:

At the lower of cost and estimated selling price less costs to complete and sell

Question 2

Under the South African Companies Act 71 of 2008 Regulation 28, when is an Independent Review (rather than a full Audit) permitted for a private company?

When the company is not owner-managed and its Public Interest Score (PIS) is between 100 and 349 (and financial statements are independently compiled) When the company has a PIS exceeding 500 When the company is a state-owned enterprise Private companies are never allowed to conduct independent reviews

Correct Answer:

When the company is not owner-managed and its Public Interest Score (PIS) is between 100 and 349 (and financial statements are independently compiled)

Question 3

Under Section 11(a) of the South African Income Tax Act, a Professional Accountant (SA) calculates taxable income for a client. Gross Trading Revenue = R5 000 000. Rent expense = R300 000, Staff wages = R1 200 000, Administrative costs = R200 000, and a traffic fine paid for speeding by a company driver = R5 000. What is the allowable tax deduction?

R1 700 000 R1 705 000 R1 500 000 R2 000 000

Correct Answer:

R1 700 000

Question 4

A Professional Accountant (SA) advises a small business on Break-Even analysis. Selling price per unit = R150, Variable cost per unit = R90, Fixed costs = R360 000 per year. What is the Break-Even sales revenue in Rands?

R900 000 R600 000 R360 000 R1 200 000

Correct Answer:

R900 000

Question 5

Under IFRS for SMEs Section 17 (Property, Plant and Equipment), how is depreciation accounted for when an asset's residual value increases to an amount equal to or greater than its carrying amount?

Depreciation charge is zero until the residual value subsequently decreases below carrying amount Depreciation continues at the historical rate regardless of residual value The asset must be written off to profit or loss immediately The asset is reclassified as investment property

Correct Answer:

Depreciation charge is zero until the residual value subsequently decreases below carrying amount

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About this Exam

Prepare with the SAIPA PE Practice Questions - SAIPA Professional Evaluation (PE) Exam practice quiz. This question bank includes 100 questions covering section, south, african, saipa, and income. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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SAIPA PE Practice Questions - SAIPA Professional Evaluation (PE) Exam

This practice set contains 100 questions from the matching question bank and focuses on section, south, african, saipa, and income. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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SAIPA PE Practice Questions - SAIPA Professional Evaluation (PE) Exam

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