Certainly! Below is a compiled, detailed, and academically styled version of all the questions and sub$-$questions from the images you uploaded. The rephrasing ensures clarity, avoids plagiarism, and is suitable for academic purposesespecially in the context of municipal finance and asset management in South Africa.Question $1$: Understanding Municipal Asset Management and Liabilities $[26$ Marks$]1\mathrm{.}1$ Definitions and Regulatory Framework$1\mathrm{.}1\mathrm{.}1$ Define the term municipal assets and provide two examples that are relevant to the South African municipal context$\mathrm{.}1\mathrm{.}1\mathrm{.}2$ Explain the purpose and significance of GRAP $17($Generally Recognised Accounting Practice$)$ in municipal financial reporting and asset management$\mathrm{.}1\mathrm{.}1\mathrm{.}3$ Clearly distinguish between short$-$term and long$-$term liabilities, and provide suitable examples for each within a municipal setting$\mathrm{.}1\mathrm{.}1\mathrm{.}4$ Identify and briefly explain three key pieces of legislation that govern the management and accountability of municipal assets in South Africa$\mathrm{.}1\mathrm{.}2$ Depreciation and MFMA Compliance$1\mathrm{.}2\mathrm{.}1$ A municipality acquires a refuse truck for R$1\mathrm{.}5$ million, with a useful life of $10$ years and no residual value. Using the straight$-$line depreciation method, calculate the annual depreciation expense$\mathrm{.}1\mathrm{.}2\mathrm{.}2$ Based on the depreciation calculated in $1\mathrm{.}2\mathrm{.}1,$ determine the carrying amount $($book value$)$ of the refuse truck after $3$ years$\mathrm{.}1\mathrm{.}2\mathrm{.}3$ List and briefly discuss three potential consequences of non$-$compliance with Section $13$ of the Municipal Finance Management Act $($MFMA$)$ concerning municipal investments$\mathrm{.}1\mathrm{.}3$ Asset IntegrityThe Auditor$-$General of South Africa $($AGSA$)$ has identified R$50$ million worth of ghost assets in a municipal asset register. These are assets that either no longer exist or are inaccurately recorded.Discuss the steps that should be undertaken by the municipality to address and correct this issue$\mathrm{.}1\mathrm{.}4$ Preventative Maintenance and Cost EfficiencyDiscuss how preventive maintenance of municipal infrastructure can lead to long$-$term cost savings. Support your explanation with a South African municipal example.Question $2$: Eskom Debt and Financial Accountability $[10$ Marks$]$Read the following case study and respond accordingly:Masilonyana Municipalitys Eskom Debt CrisisMasilonyana Local Municipality $($Free State$)$ failed to disclose R$80$ million in arrears to Eskom in its MFMA Section $71$ reports. This non$-$disclosure led to service interruptions by Eskom, which cut electricity to essential facilities such as hospitals and street lighting. The municipality subsequently faced financial collapse, credit rating downgrades, and suspension of grants by the National Treasury$\mathrm{.}2\mathrm{.}1$ Compliance and GovernanceIdentify two violations of the Municipal Finance Management Act $($MFMA$)$ based on the case study$\mathrm{.}2\mathrm{.}2$ Debt Recovery StrategyPropose a comprehensive debt recovery plan that the municipality could implement to restore financial health and service delivery$\mathrm{.}2\mathrm{.}3$ Accountability and TransparencyExplain why transparency in liability reporting is crucial in municipal finance. Discuss the risks of non$-$disclosure and its impact on stakeholders.Question $3$: Financial Ratio Analysis and Interpretation $[8$ Marks$]3\mathrm{.}1$ Financial Data Overview: Emthanjeni Local Municipality $(2023)$Total Debt: R$60$ million $($includes R$20$ million Eskom arrears$)$Total Assets: R$100$ millionCurrent Assets: R$15$ million $($cash and receivables$)$Current Liabilities: R$10$ million $($creditors and short$-$term loans$)3\mathrm{.}2$ Ratio Calculations and Risk Interpretation$3\mathrm{.}2\mathrm{.}1$ Calculate the Current Ratio using the given data, and interpret the result in terms of the municipalitys liquidity position$\mathrm{.}3\mathrm{.}2\mathrm{.}2$ Calculate the Debt Ratio, and interpret the implications for the municipalitys solvency and financial stability$\mathrm{.}3\mathrm{.}2\mathrm{.}3$ Suggest one practical financial action that the municipality could implement to address the potential risks indicated by each of the above ratios.Let me know if youd like me to draft model answers or explanations for any of the above questions.