Syllabus Review for September 2017 Diet
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Questions and Answers

Who is the Chairman of the ATSWA Examinations Committee?

  • Mr. Rotimi Akanni Omotoso
  • Deacon Solomon Oluwole. Adeleke (correct)
  • Mr. Ikhiegbia Braimoh Momoh
  • Mr. John Adeniyi Adeyemo

Who is the Principal Manager and Head of the ATSWA Examinations Department?

  • Mr. John Adeniyi Adeyemo (correct)
  • Mr. Rotimi Akanni Omotoso
  • Mr. Ikhiegbia Braimoh Momoh
  • Mr. John Irabor Evbodaghe

What was the purpose of the team constituted after the approval of the new syllabus?

  • To review the Study Texts in line with the syllabus (correct)
  • To develop a new syllabus
  • To create a new editorial board
  • To undertake a comprehensive review of the ICAN Examinations Committee

Who is the Registrar/Chief Executive of ICAN?

<p>Mr. Rotimi Akanni Omotoso (B)</p> Signup and view all the answers

What is the title of the page numbered 'i' in the Study Text?

<p>TITLE PAGE (A)</p> Signup and view all the answers

What is the institution of Mr. Moses Akinlabi Odedoyin?

<p>Osun State College of Education (B)</p> Signup and view all the answers

Who wants to know about the business's ability to pay for goods supplied promptly?

<p>Trade payables (B)</p> Signup and view all the answers

Who needs accounting information to decide how secure their job is?

<p>Employees of the entity (A)</p> Signup and view all the answers

Who analyzes financial statements for their clients?

<p>Financial analysts (B)</p> Signup and view all the answers

Who wants to know about the quality of the products of the business?

<p>Customers (C)</p> Signup and view all the answers

Who needs accounting information to determine tax payable by the entity and its employees?

<p>Tax authority (C)</p> Signup and view all the answers

Who wants to know about the liquidity and profitability of the entity?

<p>Lenders (B)</p> Signup and view all the answers

What is the primary objective of Chapter Thirteen?

<p>To ascertain profit from incomplete records (D)</p> Signup and view all the answers

What is the title of Chapter Fourteen?

<p>Accounting for Not-for-Profit Organisations (C)</p> Signup and view all the answers

What is the title of Chapter Fifteen?

<p>Use of Computer Application Packages in Accounting (A)</p> Signup and view all the answers

What is the primary objective of the course 'Basic Accounting Processes and Systems'?

<p>To develop an appreciation of the role of accounting information (D)</p> Signup and view all the answers

What is the focus of Section 13.3.1?

<p>Preparation of Statement of Affairs (D)</p> Signup and view all the answers

What is discussed in Section 14.4?

<p>Membership Subscription (A)</p> Signup and view all the answers

What is the title of the course?

<p>Basic Accounting Processes and Systems (C)</p> Signup and view all the answers

What is discussed in Section 15.5?

<p>Payroll System (A)</p> Signup and view all the answers

What is the primary aim of Chapter Thirteen?

<p>To ascertain profit from incomplete records (D)</p> Signup and view all the answers

What is discussed in Section 14.2?

<p>Receipts and Payments Accounts (C)</p> Signup and view all the answers

What is a characteristic of a sole-proprietorship?

<p>The owner has unlimited liability (C)</p> Signup and view all the answers

What is the maximum number of partners allowed in a firm?

<p>Twenty (B)</p> Signup and view all the answers

What happens to a sole-proprietorship upon the death of the owner?

<p>It is automatically dissolved (B)</p> Signup and view all the answers

What is the purpose of a partnership, as stated in the Partnership Act 1890 and the Limited Partnership Act 1907?

<p>To make a profit (A)</p> Signup and view all the answers

What happens to profits and losses in a partnership, in the absence of an agreement?

<p>They are distributed equally among partners (B)</p> Signup and view all the answers

What is required for the formation of a partnership?

<p>The voluntary coming together of two or more persons (C)</p> Signup and view all the answers

What is one of the functions of the Board in relation to accounting and financial reporting standards?

<p>Specifying minimum requirements for recognition, measurement, presentation and disclosure in financial statements (C)</p> Signup and view all the answers

What is the importance of accounting information to user groups?

<p>Useful to various user groups (C)</p> Signup and view all the answers

What is the role of the Board in relation to auditing standards?

<p>Developing or adopting auditing standards and ensuring consistency with International Auditing and Assurance Standards Board (A)</p> Signup and view all the answers

What are some of the qualitative characteristics of useful financial information?

<p>All of the above (D)</p> Signup and view all the answers

What is the purpose of accounting?

<p>To provide financial information to various user groups (A)</p> Signup and view all the answers

What is the scope of accounting?

<p>Includes book-keeping and financial reporting (D)</p> Signup and view all the answers

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