34 Questions
Who is the Chairman of the ATSWA Examinations Committee?
Deacon Solomon Oluwole. Adeleke
Who is the Principal Manager and Head of the ATSWA Examinations Department?
Mr. John Adeniyi Adeyemo
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
Who is the Registrar/Chief Executive of ICAN?
Mr. Rotimi Akanni Omotoso
What is the title of the page numbered 'i' in the Study Text?
TITLE PAGE
What is the institution of Mr. Moses Akinlabi Odedoyin?
Osun State College of Education
Who wants to know about the business's ability to pay for goods supplied promptly?
Trade payables
Who needs accounting information to decide how secure their job is?
Employees of the entity
Who analyzes financial statements for their clients?
Financial analysts
Who wants to know about the quality of the products of the business?
Customers
Who needs accounting information to determine tax payable by the entity and its employees?
Tax authority
Who wants to know about the liquidity and profitability of the entity?
Lenders
What is the primary objective of Chapter Thirteen?
To ascertain profit from incomplete records
What is the title of Chapter Fourteen?
Accounting for Not-for-Profit Organisations
What is the title of Chapter Fifteen?
Use of Computer Application Packages in Accounting
What is the primary objective of the course 'Basic Accounting Processes and Systems'?
To develop an appreciation of the role of accounting information
What is the focus of Section 13.3.1?
Preparation of Statement of Affairs
What is discussed in Section 14.4?
Membership Subscription
What is the title of the course?
Basic Accounting Processes and Systems
What is discussed in Section 15.5?
Payroll System
What is the primary aim of Chapter Thirteen?
To ascertain profit from incomplete records
What is discussed in Section 14.2?
Receipts and Payments Accounts
What is a characteristic of a sole-proprietorship?
The owner has unlimited liability
What is the maximum number of partners allowed in a firm?
Twenty
What happens to a sole-proprietorship upon the death of the owner?
It is automatically dissolved
What is the purpose of a partnership, as stated in the Partnership Act 1890 and the Limited Partnership Act 1907?
To make a profit
What happens to profits and losses in a partnership, in the absence of an agreement?
They are distributed equally among partners
What is required for the formation of a partnership?
The voluntary coming together of two or more persons
What is one of the functions of the Board in relation to accounting and financial reporting standards?
Specifying minimum requirements for recognition, measurement, presentation and disclosure in financial statements
What is the importance of accounting information to user groups?
Useful to various user groups
What is the role of the Board in relation to auditing standards?
Developing or adopting auditing standards and ensuring consistency with International Auditing and Assurance Standards Board
What are some of the qualitative characteristics of useful financial information?
All of the above
What is the purpose of accounting?
To provide financial information to various user groups
What is the scope of accounting?
Includes book-keeping and financial reporting
This quiz reviews the new syllabus effective from September 2017, focusing on the comprehensive review of study texts under the supervision of an editorial board.
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