ACC318 Tma Solutions

ACC318

Question: The penalties for false statement and return is â€|â€|..
Answer: N1,000 or imprisonment for five years or both

Question: ….. is the major objectives of taxation.
Answer: Revenue geenration

Question: is a canon of tax that states that the time, mode and amount to be paid as tax is clear to the taxpayer.
Answer: Principle of certainty

Question: Which of the following can be a means through which tax evasion can happen.
Answer: Refusing to refgister with relevant tax authority

Question: …… is not one of the period into which the development of Nigeria taxation can be categorised
Answer: 1951-1955

Question: …….. Is not an information to be disclosed in a tax celarance certificate
Answer: Wages and salaries

Question: Which of the following is not a tax offence
Answer: Compliance with notice

Question: What is the present rate if minimum tax.
Answer: 1% of gross income

Question:……… is an example of earned income
Answer: Bonuses

Question: The timeline for issuing a tax clearance certificate to a taxpayer on demand is
Answer: Minimum period of 2 weeks

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