Assessment 1 FNSACC323 - Tejas

Australian Harbour International College
RTO ID: 41338 CRICOS Provider Code: 03449J

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A: Level 4, 114-120 Castlereagh Street
Sydney NSW 2000 Australia
Assessment Details
Qualification Code/Title FNS40222 Certificate IV in Accounting and Bookkeeping
Assessment Type Assessment -01 (Written Questions) Time allowed
Due Date 25/08/2022 Location AHIC Term / Year T3/2022
Unit of Competency
National Code/Title FNSACC323 Perform financial calculations
Student Details
Student Name Pragati sapkota Student ID AHI2000994
Student Declaration: I declare that the work submitted is Signature:

__pragati__________________________
my own, and has not been copied or plagiarised from any
Date: 25_____/__08____/___2022_______
person or source.
Assessor Details
Assessor’s Name
A J Mubbashar
RESULTS
SATISFACTORY NOT SATISFACTORY
(Please Circle)
Feedback to student:
Australian Harbour International College, 114-120 Castlereagh Street, Sydney NSW 2000, Australia
|RTO NO: 41338 | CRICOS Provider Code: 03449J
FNSACC323 Perform financial calculations Version V1.0/ July 2022 Page 1 of 27

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Student Declaration: I declare that I have been Assessor Declaration: I declare that I have conducted a fair,
assessed in this unit, and I have been advised of my valid, reliable and flexible assessment with this student, and I
result. I am also aware of my appeal rights. have provided appropriate feedback.
Signature pragati Signature
Date 25/08/202
Date

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Instructions to the Candidates
 This assessment is to be completed according to the instructions given below in this document.
 Should you not answer the tasks correctly, you will be given feedback on the results and gaps in
knowledge. You will be entitled to one (1) resubmit in showing your competence with this unit.
 If you are not sure about any aspect of this assessment, please ask for clarification from your assessor.
 Please refer to the College re-submission and re-sit policy for more information.
 If you have questions and other concerns that may affect your performance in the Assessment, please
inform the assessor immediately.
 To be deemed competent for this unit you must achieve a satisfactory result with tasks of this
assessment along with a satisfactory result for the other assessment.
 This is an Open book assessment which you will do in your own time but complete in the time
designated by your assessor. Remember, that it must be your own work and if you use other sources
then you must reference these appropriately.
 Resources required completing the assessment tasks are Learner guide, PowerPoint presentation, Unit
Assessment Pack (UAP), Access to other learning materials such as textbooks, Access to a computer, the
Internet and word-processing system such as MS Word.
 This is Individual Assessments. Once you have completed the assessment, please upload the softcopy of
the Assessment into AHIC Moodle.
 Plagiarism is copying someone else’s work and submitting it as your own. AHIC is using Turnitin software
in Moodle to detect plagiarism. Any Plagiarism will result in a mark of Zero.

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Reasonable adjustments
• Students with carer responsibilities, cultural or religious obligations, English as an additional
language, disability etc. can request for reasonable adjustments.
• Please note, academic standards of the unit/course will not be lowered to accommodate the
needs of any student, but there is a requirement to be flexible about the way in which it is
delivered or assessed.
• The Disability Standards for Education requires institutions to take reasonable steps to enable
the student with a disability to participate in education on the same basis as a student without a
disability.
• Trainer/Assessor must complete the section below “Reasonable Adjustment Strategies Matrix”
to ensure the explanation and correct strategy have been recorded and implemented if
applicable.
• Trainer/Assessor must notify the administration/compliance and quality assurance department
for any reasonable adjustments made.
• All evidence and supplementary documentation must be submitted with the assessment pack to
the administration/compliance and quality assurance department.

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Reasonable Adjustment Strategies Matrix (Trainer/Assessor to complete)

Category Possible Issue Reasonable Adjustment Strategy
(select as applicable)
¨ LLN ¨ Speaking ¨ Verbal assessment
¨ Reading ¨ Presentations
¨ Writing ¨ Demonstration of a skill
¨ Confidence ¨ Use of diagrams
¨ Use of supporting documents such as wordlists
¨ Non-English- ¨ Speaking ¨ Discuss with the student and supervisor (if applicable) whether
Speaking ¨ Reading language, literacy and numeracy are likely to impact on the
Background ¨ Writing assessment process
¨ Cultural ¨ Use methods that do not require a higher level of language or
background literacy than is required to perform the job role
¨ Confidence ¨ Use short sentences that do not contain large amounts of
information
¨ Clarify information by rephrasing, confirm understanding
¨ Read any printed information to the student
¨ Use graphics, pictures and colour coding instead of, or to support,
text
¨ Offer to write down, or have someone else write, oral responses
given by the student
¨ Ensure that the time available to complete the assessment, while
meeting enterprise requirements, takes account of the student’s
needs
¨ Indigenous ¨ Knowledge and ¨ Culturally appropriate training
understanding ¨ Explore understanding of concepts and practical application through
¨ Flexibility oral assessment
¨ Services ¨ Flexible delivery
¨ Inappropriate ¨ Using group rather than individual assessments
training and ¨ Assessment through completion of practical tasks in the field after
assessment demonstration of skills and knowledge.
¨ Age ¨ Educational ¨ Make sure font size is not too small
background ¨ Trainer/Assessor should refer to the student’s experience
¨ Limited study skills ¨ Ensure that the time available to complete the assessment takes
account of the student’s needs

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¨ Provision of information or course materials in accessible format.

¨ Changes in teaching practices, e.g. wearing an FM microphone to
enable a student to hear lectures
¨ Supply of specialised equipment or services, e.g. a note-taker for a
student who cannot write
¨ Changes in lecture schedules and arrangements, e.g. relocating
classes to an accessible venue
¨ Changes to course design, e.g. substituting an assessment task
¨ Modifications to physical environment, e.g. installing lever taps,
building ramps, installing a lift
¨ Educational ¨ Reading ¨ Discuss with the Student previous learning experience
background ¨ Writing ¨ Ensure learning and assessment methods meet the student’s
¨ Numeracy individual need
¨ Limited study skills
and/or learning
strategies
¨ Disability ¨ Speaking ¨ Identify the issues
¨ Reading ¨ Create a climate of support
¨ Writing ¨ Ensure access to support that the student has agreed to
¨ Numeracy ¨ Appropriately structure the assessment
¨ Limited study skills ¨ Provide information or course materials in accessible format, e.g. a
and/or learning textbook in braille
strategies ¨ Changes in teaching practices, e.g. wearing an FM microphone to
enable a student to hear lectures
¨ Supply of specialised equipment or services, e.g. a note- taker for a
student who cannot write
¨ Changes in lecture schedules and arrangements, e.g. relocating
classes to an accessible venue
¨ Changes to course design, e.g. substituting an assessment task
¨ Modifications to physical environment, e.g. installing lever taps,
building ramps, installing a lift
Explanation of reasonable adjustments strategy used (If required)

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What if you disagree on the assessment outcome?
You can appeal against a decision made in regards to your assessment. An appeal should only be made
if you have been assessed as ‘Not Yet Competent’ against a specific unit and you feel you have sufficient
grounds to believe that you are entitled to be assessed as competent. You must be able to adequately
demonstrate that you have the skills and experience to be able to meet the requirements of units you
are appealing the assessment of.
Your trainer will outline the appeals process, which is available to the student. You can request a form to
make an appeal and submit it to your trainer, the course coordinator, or the administration officer. The
AHIC will examine the appeal and you will be advised of the outcome within 14 days. Any additional
information you wish to provide may be attached to the appeal form.
Academic Integrity:
Academic Integrity is about the honest presentation of your academic work. It means acknowledging the
work of others while developing your own insights, knowledge and ideas.
As a student, you are required to:
• Undertake studies and research responsibly and with honesty and integrity
• Ensure that academic work is in no way falsified
• Seek permission to use the work of others, where required
• Acknowledge the work of others appropriately
• Take reasonable steps to ensure other students cannot copy or misuse your work.
Plagiarism:
Plagiarism means to take and use another person's ideas and or manner of expressing them and to pass
them off as your own by failing to give appropriate acknowledgement. This includes material sourced
from the internet, RTO staff, other students, and from published and unpublished work.

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Plagiarism occurs when you fail to acknowledge that the ideas or work of others are being used, which
includes:
• Paraphrasing and presenting work or ideas without a reference
• Copying work either in whole or in part
• Presenting designs, codes or images as your own work
• Using phrases and passages verbatim without quotation marks or referencing the
author or web page
• Reproducing lecture notes without proper acknowledgement.
Collusion:
Collusion means unauthorised collaboration on assessable work (written, oral or practical) with other
people. This occurs when a student presents group work as their own or as the work of someone else.
Collusion may be with another RTO student or with individuals or student’s external to the RTO. This
applies to work assessed by any educational and training body in Australia or overseas.
Collusion occurs when you work without the authorisation of the teaching staff to:
• Work with one or more people to prepare and produce work
• Allow others to copy your work or share your answer to an assessment task
• Allow someone else to write or edit your work (without rto approval)
• Write or edit work for another student
• Offer to complete work or seek payment for completing academic work for other students.
Both collusion and plagiarism can occur in group work. For examples of plagiarism, collusion and
academic misconduct in group work please refer to the RTO’s policy on Academic integrity, plagiarism
and collusion.
Plagiarism and collusion constitute cheating. Disciplinary action will be taken against students who
engage in plagiarism and collusion as outlined in RTO’s policy.
Proven involvement in plagiarism or collusion may be recorded on students’ academic file and could
lead to disciplinary action.
Special Required Software and Hardware to complete the Assessments:

 Computer With Internet Connection
 Microsoft Office Suite
Assessment Formatting and Answer length Guidance:

Your Submitted document must follow the given criteria:

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 Font must be Times New Roman, Font size need to be 12 and line spacing has to be Single line.
 Your assessment needs to be submitted as an electronic copy unless requested differently by
your assessor.
 The Assessment file name for electronic copy should follow : Student Id_Assessment_No
( Example AHI000014_Assessment 1
Referencing
Include a reference list at the end of your work on a separate page or as footnotes. You should
reference the sources you have used in your assessments in the Harvard Style.
To access a web-based tool, see Harvard Style online generator http://www.harvardgenerator.com
Pre-assessment Checklist
Your assessor will go through the assessment for this unit. It is important that you understand this
assessment before taking on the tasks. To confirm that you have been given this overview, we ask you
to complete the following Pre-Assessment Checklist.
You are required to carefully read each checklist item provided below and tick either ‘Y’ to confirm your
understanding or ‘N’ if you disagree. In case you disagree with an item, please provide your reason
under the ‘Comments’ section.
This acknowledges that your Trainer/Assessor has discussed all of the information with you prior to
undertaking this assessment.
Checklist Comments
Y☐ ☐N I, the student, understand the purpose of the assessment.
I understand when and where the assessment will occur, who will assess
Y☐ ☐N me, how and in what format the assessment will be submitted.
Y☐ ☐N I understand the methods of assessment.
I understand what resources are required to successfully complete this

Y☐ ☐N assessment.

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Y☐ ☐N I understand the performance level required for each assessment event.
I understand that it must be my own work. I have been explained and

Y☐ ☐N understood the serious consequences in case this work is found
plagiarised.
Y☐ ☐N I understand the process if I am deemed not yet competent.
Y☐ ☐N I understand the feedback process and the appeals process.
The assessor has discussed with me if I have any special needs and if so
Y☐ ☐N what arrangements have been put in place.
Assessment Task 1: Written Assessment

Task summary
You need to answer all of the written questions correctly.
Your answers must be word processed and needs to be uploaded in Moodle.

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Required
Access to textbooks/other learning materials
Computer and Microsoft Office
Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
Re-submission opportunities
You will be provided feedback on their performance by the Assessor. The feedback will indicate if you
have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory
performance. Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt
with unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not understand
any part of this task or if you have any learning issues or needs that may hinder you when attempting
any part of the assessment.
Written answer question guidance

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The following written questions use a range of “instructional words” such as “identify” or “explain”,
which tell you how you should answer the question. Use the definitions below to assist you to provide
the type of response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail, and identify
important points and key features. Generally, you are expected to write a response one or two
paragraphs long.
Compare – when a question asks you to compare something, you will need to show how two or more
things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are
expected to write a response one or two paragraphs long.
Contrast – when a question asks you to contrast something, you will need to show how two or more
things are different, ensuring you indicate the relevance or the consequences. Generally, you are
expected to write a response one or two paragraphs long.
Discuss – when a question asks you to discuss something, you are required to point out important issues
or features and express some form of critical judgement. Generally, you are expected to write a
response one or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most noticeable
qualities or features. Generally, you are expected to write a response two or three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting forward
arguments for and against something. Generally, you are expected to write a response one or two
paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”, where you
should provide a detailed response with key points and features and provide critical analysis. Generally,
you are expected to write a response one or two paragraphs long.
Explain – when a question asks you to explain something, you should make clear how or why something
happened or the way it is. Generally, you are expected to write a response two or three sentences long.

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Identify – when a question asks you to identify something, this means that you are asked to briefly
describe the required information. Generally, you are expected to write a response two or three
sentences long.
List – when a question asks you to list something, this means that you are asked to briefly state
information in a list format.
Outline – when a question asks you to outline something, this means giving only the main points,
Generally, you are expected to write a response a few sentences long.
Summarise – when a question asks you to summarise something, this means (like “outline”) only giving
the main points. Generally, you are expected to write a response a few sentences long.

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Assessment Task 1 Instructions
Provide answers to all of the questions below and show the type of equipment or
resources for the calculations:
1. Convert the following fractions into decimals:

a. 7
4
ANSWER:
7/4= 1.75
b. 15
8
ANSWER:
15/8= 1.875
c. 18
9
ANSWER:
18/9= 2
d. 5
20
ANSWER:
5/20= 0.25
2. Convert the following decimals into fractions:

a. 1.25
ANSWER:
1.25= 5/4=1.25
b. 25.5
ANSWER:
25.5= 51/2= 25.5

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c. 2.2
ANSWER:
2.2= 11/5= 2.2
d. 14.8
ANSWER:
14.8= 74/5=14.8
3. Express the following as percentages:

a. 3
4
ANSWER:
3/4*100=75%
b. 13
39
ANSWER:
13/39*100= 33.33%
c. 9
45
ANSWER:
9/45*100= 20%
d. the increase in the price of a product that used to cost $24.80, and now costs
$31.00
ANSWER:
The gain in the price of a product is $31.00-$24.8=$6.2
% that gain in the price= $6.2/24.80= 25%

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4. Describe how to calculate the amount of GST that a customer pays on retail purchases
such as clothing, and then calculate how much GST a customer pays when they purchase a
$22 shirt.
ANSWER:
The GST calculation we should follow a simple formula. We just need to take the
original retail purchase price of an item and divided it by 11
For example, price of clothing= $22
Now, we would use the formula= Original sale price/11= GST-inclusive price.
Therefore, it would look like this:
$22/11= GST $2.

5. Describe how to calculate simple interest and calculate how much interest is earned on
$2,000 at 8% over five years.
ANSWER:
The Simple interest is determined by multiplying the daily interest rate by the principal
by the number of days that elapse between payments.
We can calculate the simple interest by using the following formula:
Here, given are:
Principle(p)= $2000
Time(T)= 5 years
Rate(R)= 8%
Now,
Simple interest= P*T*R
100
= 2000*5*8
100
$800

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Therefore, the simple interest is $800.

6. Describe how to calculate compound interest and calculate how much interest is earned
on $2,000 at 8% over five years if the interest is compounded quarterly. Keep your work to two
decimal places and full dollars.
ANSWER:
The method of compounding interest calculations are:
1.) By using the formula, A= p(1+r/n) ^n.t, where p is the principle balance, r is the interest
rate, n is the number of times, n is the number of times interest is compounded per time
period and t is the number of time periods.
ii.) Calculating the compound interest:
Year Loan amount$ Interest@8% Total loan

outstanding$
1. $2000.00 160.00 2160.00
2. $2160.00 172.80 2332.80
3. $2332.80 186.62 2519.42
4. $2519.42 201.55 2720.97
5. $2720.97 217.67 2938.64
7. Describe, in a few sentences, the difference between simple interest and compound
interest.
The differences between simple interest and compound interest are:
1. Simple interest is calculated on the principal or original amount of loan, where compound
interest is calculated on the principal amount and the accumulated interest of previous
periods, and thus can be regarded as “interest on interest.”
8. Describe how repayments of basic loans are calculated

ANSWER:
We can calculate repayments of basic loans by the following ways:

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i.) Simple repayment calculations:

In this calculation the loan is multiplied by the interest rate per Anum and then the
total interest is added to the amount of loan. Then, total loan including interest is
divided by the number of years to calculate repayment instalment.
ii.) Formula based calculation:
Through the excel sheet, we can use the following formula to calculate repayment
instalment.
= PMT (interest rate, no. of periods, present value, FV, 0,1)
iii.) Through accounting software:
9. Calculate the monthly loan repayments on a loan of $100,000 at 8% fixed interest over
30 years.
Show your calculations at each step. Don’t use more than four decimal places in your
calculations.
ANSWER:
For the manual calculation, use the following formula:
Given here,
Loan amount (P) = $100,000
Interest rate per period (r)= 8%
Total number of payments or periods (n) = 30 years
Now,
Through excel sheet= PMT (r, neper, pv,fv,0,1)
Monthly instalment= $369.91
Through manual calculation,
Monthly instalment= (100,000*0.08/12) / (1-1+0.08/12)360
Monthly instalment= $369.91
10. If you had to calculate a mortgage repayment for a customer, what tool would you use?

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ANSWER:
Following are the tool to calculate a mortgage repayment for a customer:
i.) Visit the following given website
1. www.visit yourmortagagerepaymentcalculator.com.au
2. www.visit yourmortagage.com
ii.) use excel sheet calculations through financial formulae.
11. If $4,000 were deposited into an account that gives 8% interest, how much interest
(rounded off to whole dollars) would be paid out after 4 years? Calculate this for a bank account
that pays simple interest, and for an account that pays compound interest once per annum.
Calculate the difference between the two figures, showing all your workings.
ANSWER:
To calculate the simple interest and compound interest, we should use the following formula:
Here, Given
Principal(P)= $4000
Time(T)= 4 Years
Rate(R)= 8%
SI=?
Now,
Simple Interest (SI)= p*t*r/100
= 4000*4*8/100
= $1280
ii.) For the calculation of compound interest
Compound interest= p (1+r/n) n *t
= $4329.72
Therefore,
Compound interest= $4329.72

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12. Outline two commonly used financial calculation tools, and five sources of information
that are used for financial calculations.
ANSWER:
i.) The two commonly used financial calculation tools are:
1. Accounting software
2. Excel sheet
ii.) The five source of information that are used for financial calculations are:
1. Balance sheet
2. Fixed assets
3. Equity
4. Cost of Sales
5. Account payables
13.
a) Discuss what is depreciation and how to calculate depreciation by using straight-line method?
ANSWER:
i.) Depreciation is an accounting method of allocating the cost of a tangible asset over
its useful life to account for declines in value over time.
ii.) To calculate depreciation by using straight line basis, simply divide net price
(purchase price less the salvage price) by the number of useful years of life the asset
has.
b) Steve bought the following assets on 1 July 2021.
Asset Cost ($) Lifetime Estimated

Residual Value
Car 40,000 5 years & 6 months 7,000
ANSWER:
Depreciation amount= asset value – residual value

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= $ 40,000 - $ 7000
= $ 33,000
Depreciation per year: $33,000 / 5.5 = $ 6,000
Depreciation of car
Asset car Date of July 1, 2021

description purchase
Residual $ 7,000 Depreciation Straight line

value method
Year Book Depreciation Accumulated Written down

value$ for the depreciation value
years$ $ $
1. 40,000 6,000 6,000 34,000
2. 34,000 6,000 12,000 28,000
3. 28,000 6,000 18,000 22,000
4. 22,000 6,000 24,000 16,000
5. 16,000 6,000 30,000 10,000
6. 10,000 3,000 33,000 7,000

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On 12 August he bought a printer for $2,000. The printer has a lifetime of 4 years and an
estimated residual value of $300. Complete the depreciation table below by using straight-line
method. Use following template
ANSWER:
Depreciation Amount= Asset value – Residual value
= $2000-$300
= $ 1700
Depreciation per year= 1700/ 4
=$425
Depreciation of Printer
Asset Printer Date of July 1, 2021

description purchase
Residual $300 Depreciation Straight line
value method
Year Book value $ Depreciation Accumulated Written down
for the year $ depreciation value $
$
1. 2,000 $425 $425 $1575
2. $1575 $425 $850 $1150

3. $425 $1275 $725
$1150

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4. $725 $425 $1700 $300
14.
a) What is break-even point and how to calculate the breakeven point?
ANSWER:
The break-even point is the point where a company’s revenues is equal to its costs.
We can calculate the break-even point by using the formula given below:
Break-even point= Fixed cost / Contribution margin.
b) Apple company manufactures IPhone. For the coming year the accountant has prepared the
following projected income statement
Sales (500 units @ $200) $100,000
Less: Variable expense ($25,000)
Contribution margin $75,000
Less: Fixed expense ($35,000)
Net Profit $40,000
Calculate the breakeven point?

ANSWER:
For the calculation of Breakeven point we should use the following formula:

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Given here,
Sale price= $200
Variable cost= $50
Fixed price= $ 35000
Step 1. Calculate contribution margin= sale price- variable cost

= $200-$50
= $150
Here,
Contribution margin is $ 150.
Step 2: Contribution margin ratio= Contribution margin/ sale price

= 150/200
= 0.75
Here, Contribution margin ratio= 0.75
Step 3: Calculate Breakeven point= Fixed cost / Contribution margin ratio

= $ 35000/ 0.75
= $ 46,667
Therefore, Breakeven point= $ 46,667
15. What is markup and margin? Alfred sells bicycles for $200 each, and each bike costs
$150 to make. Calculate the markup & margin?
ANSWER:
1. Markup Is the difference between the selling price of a good or service and cost. It
is expressed as a percentage over the cost.

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2. Margin is the profit generated after accounting for costs, which is expressed as a
percentage.
I.) For the calculation of Markup

Selling price of bicycles= $200
Cost of bike= $150
Now,
Markup= sales price – Cost of bike.
= $200-$150
= $ 50
ii.) For the calculation of Margin of Alfred:
Margin= Difference between sale price and cost price / sale price * 100
= (200-150)/200* 100
= 25%
Therefore, The Markup is $ 50, and the Margin is 25%

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Assessment Task 1 Checklist

Student’s name:
Completed
Where the student has not answered
Did the student provide a sufficient and clear successfully
the question satisfactorily, include a
answer that addresses the suggested answer
brief comment as to why
for the following? Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 1
Question 8
Question 9
Question 10
Question 11
Question 12
Question 13
Question 14
Question 15
Task Outcome: Satisfactory  Not Satisfactory 

Assessor signature

ABN: 74 603 036 102
T: 02 9268 0085
W: www.ahic.edu.au
Student’s name:
Completed
Where the student has not answered
Did the student provide a sufficient and clear successfully
the question satisfactorily, include a
answer that addresses the suggested answer
brief comment as to why
for the following? Yes No
Assessor name
Date
- - END of Assessment 1- -

Assessment 1 FNSACC323 - Tejas

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Assessment 1 FNSACC323 - Tejas

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Australian Harbour International College

RTO ID: 41338 CRICOS Provider Code: 03449J

Assessment Type Assessment -01 (Written Questions) Time allowed

Due Date 25/08/2022 Location AHIC Term / Year T3/2022

Student Declaration: I declare that the work submitted is Signature:

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result. I am also aware of my appeal rights. have provided appropriate feedback.

Signature pragati Signature

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Instructions to the Candidates

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Reasonable Adjustment Strategies Matrix (Trainer/Assessor to complete)

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¨ Provision of information or course materials in accessible format.

Explanation of reasonable adjustments strategy used (If required)

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What if you disagree on the assessment outcome?

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Special Required Software and Hardware to complete the Assessments:

Assessment Formatting and Answer length Guidance:

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Y☐ ☐N I, the student, understand the purpose of the assessment.

Y☐ ☐N I understand the methods of assessment.

I understand what resources are required to successfully complete this

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Y☐ ☐N I understand the performance level required for each assessment event.

I understand that it must be my own work. I have been explained and

Y☐ ☐N I understand the process if I am deemed not yet competent.

Y☐ ☐N I understand the feedback process and the appeals process.

Assessment Task 1: Written Assessment

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Written answer question guidance

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Assessment Task 1 Instructions

1. Convert the following fractions into decimals:

2. Convert the following decimals into fractions:

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3. Express the following as percentages:

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Therefore, the simple interest is $800.

Year Loan amount$ Interest@8% Total loan

8. Describe how repayments of basic loans are calculated

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i.) Simple repayment calculations:

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Asset Cost ($) Lifetime Estimated

Car 40,000 5 years & 6 months 7,000

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Asset car Date of July 1, 2021

Residual $ 7,000 Depreciation Straight line

Year Book Depreciation Accumulated Written down

2. 34,000 6,000 12,000 28,000