November 2022 diet: the questions by course

Business Environment November 2022 · 4 questions

• Theory 1: From the earlier Business, Management and Finance paper. Asks you to analyse the business environment as a basis for competitive strategy. Revise S...
• Theory 4: From the earlier Business, Management and Finance paper. Asks how a manager can find the best way to motivate employees who differ in their drives.
• Theory 5: From the earlier Business, Management and Finance paper. Asks how a manager can keep a culture of open communication to settle differences. Revise ...
• Theory 6: From the earlier Business, Management and Finance paper. Asks about business analyses and models used to decide which products and markets to keep ...

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Financial Accounting November 2022 · 19 questions

• Objective 4: From the previous syllabus. Asks where the credit entry appears when vehicles are bought for cash. The same item appears in both diets.
• Objective 5: From the previous syllabus. Question 5 asks what an item credited on the bank statement but not yet recorded in the cash book is. Question 15 asks ...
• Objective 9: From the previous syllabus. Asks which costs are included in or excluded from the cost of inventories under IAS 2, such as selling costs, conversio...
• Objective 11: From the previous syllabus. Asks what is true of the totals of discount allowed and discount received in a cash book. The same item appears in both...
• Objective 12: From the previous syllabus. Each asks for the source of data for the sales day book.
• Objective 13: From the previous syllabus. Asks for the cash paid out from a cash book’s opening balance, closing balance and total cash received.
• Objective 14: From the previous syllabus. Asks for the name of the fixed amount of money given to a petty cashier at the beginning of a period.
• Objective 15: From the previous syllabus. Asks which item should not be added to or subtracted from the cash book balance to find the adjusted bank balance. Valu...
• Objective 16: From the previous syllabus. Asks the entry when a sole trader takes goods for personal use, the basic features of the single-entry system, and the ...
• Objective 17: 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...
• Objective 18: From the previous syllabus for the first three. Each asks which fundamental accounting concept is complied with when adjustments are made for prepa...
• Objective 19: From the previous syllabus. Asks which of five items is not a liability. The same item appears in both diets.
• Objective 20: From the previous syllabus. Asks what two partnerships combining is called, how goodwill is found from several years of profit, and when goodwill c...
• Theory 1: From the previous syllabus. A statement overdraft and a cash book credit balance with a list of unpresented cheques and other items. Asks for an ad...
• Theory 2: From the previous syllabus. A partnership shares profit in a ratio after salaries to each partner. Asks for the statement of profit or loss and app...
• Theory 3: From the previous syllabus. Company final accounts questions that state that provisions are to be made for directors’ fees of ₦6,000,000 and audit ...
• Theory 4: From the previous syllabus. Asks you to explain cash, accrual and break-up bases and to state four limitations of the cash basis. The same question...
• Theory 5: From the previous syllabus. Asks you to explain inventories (3 marks), the costs included (8 marks) and excluded (4 marks), then to calculate the c...
• Theory 6: From the previous syllabus. Asks for five IAS 16 disclosures (10 marks), then the gain or loss on a car taken in part-exchange (2 marks) and the mo...

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Corporate and Business Law November 2022 · 8 questions

• Objective extras: Section A: Question 8 asks for the maximum number of multiple directorships (five public companies). Revise multiple directorships.
• Objective 11: How many members of the audit committee must be non-executive directors (two). Revise the composition.
• Theory 1: From the Business Law paper set under the previous syllabus. Part (a) asks you to explain types of precedent, starting with original precedent. Rev...
• Theory 2: The limit on cash payments and on international transfers. Revise the cash limits and international transfers.
• Theory 3: Four duties of a secretary and four conditions for removal. Revise duties and removal.
• Theory 4: Floating charge and its advantages to the company. These are covered in the later topic on insolvency, receivership and charges. Start here with se...
• Theory 5: From the Business Law paper set under the previous syllabus. Part (a) asks for the features of a District Court. Revise the hierarchy table.
• Theory 6: Five and four ways of terminating a hire purchase agreement (Kabir and the bus). Revise termination and worked problem 2.

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Performance Management November 2022 · 7 questions

• Theory 1: Relevant cost schedule for a contract (nine items); limits of relevant costing; skimming launch price.
• Theory 2: ABC v labour-hour rate with five pools; expected selling prices; reasons for ABC.
• Theory 3: Standard cost card; April variances; reconcile budgeted and actual contribution; fixed overhead capacity/efficiency; factors in investigating varia...
• Theory 4: Transfer price range, spare capacity, full capacity; operating statements; ROI and RI of divisions.
• Theory 5: High-low variable and fixed cost; demand function P=a-bx, MR=MC optimum price and profit; skimming conditions.
• Theory 6: Differences between strategic, tactical and operational information with examples; importance of financial and non-financial measures.
• Theory 7: Skimming, penetration and parity pricing for a new executive car; recommendation.

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Taxation November 2022 · 7 questions

• Theory 1: Profits, capital allowances and tax of an agricultural company
• Theory 2: a. Mr. Zakari incorporated Zaki Limited on October 1, 2016, but the company did not commence business until March 2017. The company prepares its au...
• Theory 3: Five objectives of the National Tax Policy, and tax policy, tax laws and tax administration
• Theory 4: Basis periods, capital allowances and the meaning of in use
• Theory 5: Differences between e-commerce and e-business
• Theory 6: Employment, vocation and profession; cash emoluments and benefits in kind and the rules for valuing them
• Theory 7: Governments that benefit from withholding tax, items in the schedule, penalties and the currency of remittance

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Public Sector Accounting and Finance November 2022 · 7 questions

• Theory 1: Akanga Local Government of Babulu State constructed a large Liquefied Petroleum Gas (LPG) Station located at its headquarters as an investment prop...
• Theory 2: Part (a) (5 marks) asks for five stages of the IPSASB due process.
• Theory 3: Part (a) (11 marks) asks for five contents of the framework, the time limits for preparing it and three documents that accompany the budget.
• Theory 4: a. Nun Local Council Development Area (LCDA) of Bayelsa State has a population of about 1,548,412, citizens based on the last census carried out a ...
• Theory 5: Asks for the difference between crowding in and crowding out (5 marks) and for fiscal and monetary strategies against an economic downturn (9 marks).
• Theory 6: Otunba Local Government wishes to boosts its revenue generation and SIX possible capital investments have been identified. However, the Local Gover...
• Theory 7: External debt does not constitute a burden when optimally deployed and the return on investment is sufficient to meet maturing obligations as at wh...

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Strategic Financial Management November 2022 · 1 questions

• Theory extras: Q7: Both ask for four ways to encourage managers to achieve stakeholder objectives: share options, performance-related pay, governance codes and li...

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Advanced Taxation November 2022 · 7 questions

• Theory 1: The same compulsory question tested what happens when a pioneer certificate is not extended: the company is treated as a new business and carries t...
• Theory 2: The question asked for adjusted profit and assessable profit of an upstream company for one quarter under the Petroleum Industry Act, and comments ...
• Theory 3: The question asked for the gain and tax on an industrial building (with roll-over relief), a part disposal of plant, equipment sold to a connected ...
• Theory 4: The question asked for the importance of transfer pricing, the arm’s length rules, ways groups depart from it, the filing duties under the 2018 Reg...
• Theory 5: The question asked for the tax effect when one company absorbs another, when a merger ends a business and when a business is sold or transferred, a...
• Theory 6: The question set out a Singapore company with Nigerian income and asked when it is liable to tax in Nigeria despite a treaty. Read it with our sect...
• Theory 7: Part (a) asked for the tax of a mining company, with dividends and interest on a foreign deposit as non-taxable income, a loss brought forward and ...

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