May 2019 diet: the questions by course

Management Accounting May 2019 · 6 questions

• Objective 3: From the previous syllabus. Asks for the term used for the running charges in service costing.
• Objective 8: From the previous syllabus. Asks which item is not part of bonus incentive schemes of labour remuneration.
• Objective 9: From the previous syllabus. Asks for the point of manufacture where joint products become individually identifiable: the split-off point.
• Objective 12: From the previous syllabus. Asks which statement is not an assumption of the EOQ model.
• Theory 3: From the previous syllabus. Asks for the re-order, minimum and maximum stock levels (2 marks each), five factors in setting the maximum level, and ...
• Theory 5: Process costing with a statement of equivalent units and FIFO and weighted average valuation of output.

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Financial Accounting May 2019 · 12 questions

• Objective 5: From the previous syllabus. Asks where payments received in advance from customers are included.
• Objective 7: From the previous syllabus. Asks which two characteristics are fundamental.
• Objective 11: From the previous syllabus. Both ask in which record or book a trade discount is recorded.
• Objective 13: From the previous syllabus. Asks what the excess of expenditure over income is called, where the excess of income over expenditure is added, what r...
• Objective 18: From the previous syllabus. Asks for the sales from a gross margin of 40%, the profit on a sale at a 20% mark-up, and the gross profit from a profi...
• Objective 19: From the previous syllabus. Asks for the equation that calculates a sole trader’s profit, and, in the repeated item, the profit when opening capita...
• Theory 1: From the previous syllabus. Asks you to explain inventory (3 marks), then to find the cost and net realisable value of four used cars with recondit...
• Theory 2: From the previous syllabus. Asks for the statement of profit or loss and other comprehensive income of a company, with a credit sale to be treated ...
• Theory 3: From the previous syllabus. Asks you to define depreciation, depreciable amount, useful life and residual value (6 marks), and to calculate five ye...
• Theory 4: From the previous syllabus. A company’s bank statement shows an overdraft that does not agree with the cash book. Asks for an adjusted cash book (1...
• Theory 5: From the previous syllabus. Gives the statement of profit or loss and financial position of a company and asks, in accordance with IAS 7, for the s...
• Theory 6: From the previous syllabus. Asks, in tabular form, for three sources of information and the records they come from for each of the receivables and ...

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Corporate and Business Law May 2019 · 7 questions

• Objective extras: Section A: A will is ambulatory, persons granted letters are administrators, and intermeddling. Revise wills and personal representatives.
• Theory 1: Offer and acceptance in insurance: the proposal form, its completion, the premium, and an agent completing the form. Revise formation.
• Theory 2: Offer and counter-offer, and the Kehinde and Comfort problem (6 marks). Revise offer, counter-offer, termination and worked problem 1.
• Theory 3: Ways in which a contract of employment may be formed. Revise the form of the contract.
• Theory 4: State and explain the acts of a clerk that amount to fraudulent false accounting and the penalty. Revise section 438.
• Theory 5: From the Business Law paper set under the previous syllabus. A company that has never held a meeting and whose only director also acts as secretary...
• Theory 6: Advising a person or company transferring US dollars to Nigeria. Revise the reporting rule, the contents of the report and the time limit, and work...

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Taxation May 2019 · 7 questions

• Theory 1: (a) Obi Consults is a civil engineering consulting firm of many years. The founding partners are Bibi, Kose and Fowora. The financial year-end of t...
• Theory 2: Direct and indirect taxes with four examples of each
• Theory 3: Mr. Chukwudi, your mentee from childhood, has always been guided by your advice. He travelled to the United States to actualise his dreams. He subs...
• Theory 4: Trust, beneficiary and life tenant, capital allowances and tax payable by the trustees
• Theory 5: Oloriogun Logistics Limited renders consultancy services to newspaper publishing companies in Nigeria. All the publishers are limited liability com...
• Theory 6: Penalties for non-registration for VAT
• Theory 7: Proportional and progressive tax; direct and indirect tax

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