Question 2 Fastcars ltd, a manufacturer of motor vehicle received a claim of N$750 000 from Mr…

Question 2 Fastcars ltd, a manufacturer of motor vehicle received a claim of N$750 000 from Mr…
Question 2 Fastcars ltd, a manufacturer of motor vehicle received a claim of N$750 000 from Mr Xavie, a customer. Mr Xavie alleges that the motor vehicle sold to Mr Xavie by Fastcars Itd caught fire due to an electric circuit fault existing in the motor vehicle. Fastcars ltd disputes this claim as all motor vehicles sold by Fastcars ltd are subjected to strict quality control manufacturing inspections before they are sold to their customers. Assume that the court found Fastcars Ltd liable for the claim as the electrical circuit of the motor vehicle was found faulty. Fastcars Ltd is a financially stable company. Required i) Discuss if the claim received by Fastcars Itd from Mr Xavie the customer is a liability in term of the conceptual framework. ii) Briefly explain what this statement means: Fastcars Ltd is a financially stable company. Question 3 Briefly discuss the qualitative characteristics of useful financial information. May 16 2022 03:11 PM

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