Questions and answers by

Oyebode Oluwoye

Questions (102)

what is the role of transfer pricing in Muilt National cooperation
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primary use of performance evaluation
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The tests of custom in the province of agency are but oneQuestion 9Answer a. notoreity b. certainty c. knowledge d. uniformity
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One of the following is not a requirement for one to be enrolled in the register of the Supreme Court of Nigeria as a Solicitor
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Under the Sale of Goods Act, existing goods have been defined as goods owned or possessed by the seller. Following this
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Where in a purported sale necessaries are put to the use of an infant, or persons under delirium tremens, the requirement is for
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Where the price of a contract for the sale of goods is to be fixed or determined by a third party valuation and the third party
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2. 33 views
Agency arising out of agreement will always be consensual but it need necessarily be contractual. This statement simpl ordains
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All, save one, of the following constitute the obligations incumbent on the owner of the subject matter of a hire purchase
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Prof DoSomething works with the NOUN. He acquired on hire purchase the latest Toyota Fortuner to mark the wife\'s 40th birthday.
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Laws are classified according to the weight of their aurthority. For example, the National Open University Act Cap N63 LFN 2004
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Under the general law regime, the owner constitutes himself into a principality and power and ferociously unleashes impunity on
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In action for recovery of goods under a hire purchase agreement, the court in the exercise of its inherent powers and
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Consideration is executed if the act is or has been performed in return for a promise. It is executory if the offer as well as
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An inquest must be held only at the Supreme Court of NigeriaQuestion 1Answer a. They are held in all courts b. They are held
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A group of four Nigerians approached you to register "Chat-up Airlines Ltd". The company does not wish to issue all the shares.
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There exist an ____________ warranty that the hirer shall have and enjoy quiet possession of the goods.Question 8Answer a.
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Where the hirer under the relevant hire purchase agreement is in default, in consequence of which a notice has been served on
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A group of four Nigerians approached you to register Chat-up Airlines Ltd. The company does not wish to issue all the shares.
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2. 36 views
The sale of stolen goods took place in a market overt in the morning when the sun had not risen and it was still only half
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In Nigeria there are generally two categories of courts in relation to the judicature. These are the superior cours and the
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what is an inferior court
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The remedies available to a Principal in and agency includeQuestion 1Answer a. Private prosecution b. Action in Tort c.
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The manipulation government expenditure and taxation is called........Question 9Answer a. employment policy b. fiscal policy c.
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Tax evasion refers to a situation where:Question 8Answer a. The tax payer uses illigal means to reduce his tax liabilities to
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The discription of government intentions and policies presented by financial plan for a given period of time is called:Question
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.........is a form of debt owed by the government to institutionsQuestion 6Answer a. public spending b. public funding c. funds
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The manipulation of government expenditure and taxation to improve economic performance is called.......Question 4Answer a. land
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One of these is not among budgeting objectives ..Question 3Answer a. Expenditure b. Evaluation c. planning d. Control
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One of the following is not a classificaion of government expenditureQuestion 8Answer a. Agriculture and Commerce b. Defense and
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Revenue sharing formula in Nigeria is grouped into:Question 6Answer a. Traditional formula and Modern formula b. Non of the
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2. 58 views
One of the followings is not a source of revenue to State GovernmentQuestion 5Answer a. Non-statutory grants b. Capital grant
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Audit is an important tool used to ensure proper........of public fundsQuestion 4Answer a. Control b. public funding c. funds
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Over 70 percent of Federal Government collected revenue since the 1970s come from:Question 3Answer a. Oil revenue b. Import
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A balance budget is when:Question 2Answer a. Presumed excess of revenue projections over estimate expenditure b. If the expected
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2. 38 views
The Cash basis of accounting is a system where:Question 1Answer a. The receipts are recorded when service is received while
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According to Adolf Wagner, increase in government expenditure is due to three factorsQuestion 10Answer a. Economic activities of
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The management of the economy is done through..............policyQuestion 9Answer a. planning policy b. poverty policy c. fiscal
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One of the following is not a cannon or principle of taxationQuestion 6Answer a. Porpularity and Quantity of product b.
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Public Financial Management is a specilised, functional area found under the general classification:Question 5Answer a. Public
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Public Financial Management is about:Question 4Answer a. Government income and budget b. Government forecast and expenditure c.
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The use of government spending and taxation policies to regulate economic activities is referred to as:Question 2Answer a.
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Major instrument of Fiscal policy in Nigeria are:Question 3Answer a. Taxation and government expenditure b. Internal borrowing
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What is an event in VB programming?Question 10Answer a. An action taken by the system or user b. A property of an object c. A
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How has the Internet changed the way we do business?Question 9Answer a. It has made it easier to compare suppliers and check on
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What is an advantage of e-commerce for organizations in terms of customers?Question 8Answer a. It limits organizations to only
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2. 28 views
What is the purpose of a call center?Question 7Answer a. To answer subscriber calls for order processing, billing enquiries,
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What level of education is typically required to become an IT architect?Question 3Answer a. Bachelor\'s Degree in Information
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What is the role of data definition language in DBMS?Question 2Answer a. To provide backup and recovery of data in the database
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2. 41 views
What are the changes that can be made to a master file?Question 10Answer a. Only update of records b. Addition of records,
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What is the role of communications software in a telecommunications system?Question 9Answer a. To send or receive data b. To
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What are the advantages of Distributed Data Processing?Question 7Answer a. All of the above. b. Modularity, Easy Integration c.
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What is the main cause of the problem of Difficulty of Data-Sharing?Question 6Answer a. Program-Data Dependence b. Difficulty of
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What is a transaction file?Question 5Answer a. A collection of transaction records that stores records that have a limited
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How does file system help in the early days of data processing?Question 4Answer a. File systems were really an early attempt to
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What is the method of data processing where data about a single transaction is processed immediately it is captured?Question
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What is the purpose of a computer in a telecommunications system?Question 1Answer a. To process data b. To manage input and
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How is the average latency of a hard disk drive typically calculated?Question 10Answer a. Min latency + Max latency / 2 b. Min
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What does the extension of a file typically reflect?Question 9Answer a. The software used to create the file b. The content of
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What is the typical weight of a USB flash drive?Question 7Answer a. Less than 56g b. 56g c. Over 56g d. Varies
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What is a common seek time range for storage devices?Question 6Answer a. between 30 and 40 milliseconds b. between 10 and 20
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How is data recorded on a hard disk?Question 5Answer a. Physically engraved into the disk b. Fibre-Optics c. Electromagnetically
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What is the primary function of the CPU in a computer system?Question 2Answer a. Data output b. Data manipulation c. Data
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What is typically the highest throughput on a storage device?Question 1Answer a. it depends on the storage device b. random
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A policy as the objectives, the mode of thought and the body of ________ underlying the activities of an organization.Question
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Corporations can be either ____________-owned or privately-owned, and corporations can organize either for-profit or
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An examination and review of the internal procedures and records of an organization, in order to ascertain their reliability as
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An act of omission which occurs because the person concerned failed to exercise that degree of reasonable skills and care which
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The types of standards issued by Internertional Audit and Assurance Standards Board but notQuestion 8Answer a. International
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Those controls which involve ensuring that all transactions are authorized, completely captured, correctly recorded and
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The subject matter of an assurance engagement can take many forms as listed below except;Question 2Answer a. Systems and
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In audit independence and objectivity, IFAC Code describes it asQuestion 1Answer a. Independence in funding of activity b.
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When using the work of an expert, the auditor should obtain sufficient appropriate audit evidence that such work is adequate for
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_______ is the chance that the auditor reaches a wrong conclusion on the area under audit.Question 7Answer a. Audit risk b. Area
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The auditing profession needs audit regulation for all these except;Question 6Answer a. to ehnance the credobility of financial
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The state of mind that permits the provision of an opinion without being affected by influences that compromise professional
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The computer programs used by the audit to extract information from a client\'s computer-based information system is;a. Computer
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The principle of _______ provides that an accountant must not perform professional responsibilities for his personal advantage
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The principle of _______ provides that an accountant must not perform professional responsibilities for his personal advantage
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A contract document which defines the terms and scope of the audit engagement is called;a. Audit engagement lettter b. Audit
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In gathering audit evidence, a competent evidence must be relevant, reliable and _______a. brief b. controlled c. sufficient d.
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_____ software is computer programs used by the auditor to extract information from a clien\'s computer-based information
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The body that sets accounting and auditing standards, ensures enforcement and monitors compliance of these standards in Nigeria
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_______ of professional accountants requires them to be straightforward and honest in all professional and business
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One among the following is not a primary objective of audit;a. Examining the system of internal control b. Checking arithmetical
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Bases of accounting for insurance transactions commonly adopted are as follows, except.....:a. Referred Annual Accounting b.
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To close the books of a discontinuing company, the following ledger accounts are necessary, except one........a. Sundry members
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An agreement whereby two companies combine to become one entity is called.......a. Amalgamation b. merger c. Absorption d.
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..... is a legal status person acquires or other entity that cannot repay the debts it owes creditors.a. Bankruptcy b.
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........... reconstruction, the accumulated trading losses and fictitious assets are written off.
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Sales of assets from the investor to an associate is an example of ...........a. Downstream b. None of above c. Upstream d.
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Sales of assets from the investor to an associate is an example of ..........
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Notes to the financial statements include the following except..............a. Additional information b. Statement of financial
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The groups financial statements shall consist of three statements except one of the following.......a. Consolidated income
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Assets that have no physical existence are generally called.......
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An enterprise in which the investor has significant influence is called........a. Fellow subsidiaries b. Associated companies c.
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Significant influence is usually evidenced in one of the following ways, except....a. Interchange of managerial personnel b.
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..........are future economic benefits controlled by an entity as a result of past transactions
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When a premium is paid above the fair value of the net assets acquired over a subsidiary, it results in .........
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In a related company, the investor is deemed to......excepta. Exercise significant influence in matter relating to dividends,
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