| A typical income statement starts with revenues and ends with what after adjustments? |
| Which is not a liability to the firm? |
| State a simple equation of Assets |
| Which is not a component of Shareholders’ Equity? |
| Current assets include the following, except |
| The components of cash flow exclude |
| What is cash flow to shareholders? |
| How is goodwill treated in a firm’s balance sheet? |
| What financial analysis can be used to compare firms in the same industry? |
| What is the percentage of earnings usually earmarked for owners of business called? |
| Financial planning can accomplish the following, except |
| What is the relationship between external financing and growth? |
| What is sustainable growth rate? |
| Pro forma financial statement is the same as |
| What is the directional relationship between working capital and return on investment? |
| What is the mathematical expression of working capital? |
| Which pair is not a set of asset and liability? |
| “The decision on how much working capital to hold involves a tradeoff” What does this statement mean? |
| Which is not a reason why the firm would hold investory? |
| Which is not a credit policy driver? |
| What is Cash Reserve Requirement? |
| Which is not a manner the CBN affects economic activities of the nation? |
| Fiscal policy is said to be twin of what policy |
| Fiscal policy is expressed in all but |
| Eliminate the one that is not within the purview of fiscal/economic policy objective |
| What is the primary objective of taxation |
| For taxation to be effective, it must be backed by |
| What is the attitude of an average Nigerian to taxation? |
| What are Death duties? |
| Which is not an attribute of regressive tax? |
| What does Wagner’s Law deal on? |
| Under government expenditure function, which would you exclude from social responsibility? |
| Of the Federal Government recurrent expenditure outlay, which one is not part of it? |
| How would you classify expenditure in the areas of police, law courts, prisons, civil service, government agencies, foreign affairs? |
| Which government expenditure will fall out the provision of public goods? |
| How can complications in the fiscal system be resolved? |
| Government plays a decisive role in achieving macroeconomic objectives such as |
| When did the use of revenue allocation formula for sharing federal government revenue originate? |
| Which of the revenue allocation models was not operated by the military? |
| Principle of Equity has always ranked highest in revenue allolation in Nigeria, which principle usually comes second? |
| What is zero budgeting? |
| What is the role of budgetary control? |
| What describes The description of government intentions and policies presented by a financial plan with details of estimates stating the receipts and proposed expenditures under various classifications? |
| Name the essential aspects of budget framework |
| Why has financial control become necessary in the public sector? |
| Which is not correct of government budget? |
| Except ———, the follwing are the responsibilities of internal auditors |
| The focus of budgetary control does not include |
| Clasification of a master budget does not include |
| Which arm of government is responsible for appropriation of rvenues? |
| The preparation of accounting services carried out at the local, state and federal government ministries and parastatals is known as |
| An accountant does not perform one of these functions |
| One of these is a direct user of accounting information. |
| Information about income, expenditure, profit, assets and liabilities can be obtained from…….. |
| The document that is used to record full details of money paid for a particular purpose is called……. |
| It is called ……….if every debit entry, there is a corresponding credit entry and vice versa. |
| Advantage of a trial balance does not include one of the following. |
| Error is an accounting terminology used to signify mistakes which are |
| A temporary account that is opened to record errors that cause the trial balance total not to agree is….. |
| The cost of transporting goods meant for resale into the organisation is called…. |
| A debtor paid N65,500 cash but his account was credited with N65,000 while the cash book was debited with N65,500. You are required to correct the errors. |
| A payment of N99,000 to a creditor was omitted from the cash book but recorded in the creditor’s account in the ledger. |
| Error that does not require any journal entry for rectification is called……………. |
| The money spent in an organisation to generate income is called………….. |
| Expenditure that is carried forward in the statement of financial position which does not immediately affect profit is …. |
| Cost of goods sold is also referred to as ………. |
| The cost price of goods sold for a particular period can be derived by …………… |
| The profit realised on trading activities alone without other expenses incurred in the business is…….. |
| Statement of financial position is part of …………. |
| Thes financial obligations against the company that are not due for repayment within one year are called……… |
| Which of these is not a stage in the cycle of erosion in Arid climate |
| Which of these is not a stage in the hydrological cycle |
| When the encroaching sea has consumed a significant portion of the emerge floor, the marine erosion cycle is said to be in the ……. |
| Proteins are vital in living organisation for the following reasons except |
| Protein -Protein interaction database can be subdivided into all of these except |
| Unpermeable rock is removed and the limestone is hit by carbonation to form features such as swallow holes and limestone pavement. The above statement describes |
| Two plates sliding past each other form a …… |
| Factors that regulate protein-protein interactions are all but |
| A Sedimentary rock formed by the remains of dead sea creatures is called….. |
| One of these is not a condition for full development of Karst Topography |
| …………. has the largest reserve of oxygen |
| The Oxygen in the atmosphere is freed by the process of ………. |
| What is a food chain? |
| Nitrogen gas makes up nearly ……… % of the Earth’s atmosphere |
| Some nitrogen can be fixed by all except by |
| Food cycle is another name for…….. |
| Ammonia, Amino acid & Nucleic are all forms of ……. |
| ……….. and …… have significantly altered the amount of fixed nitrogen in the earth’s ecosystem |
| A natural interconnection of feeding pathways involving heterotrophes and antrophes can be described as a |
| Deforestation has been implicated to cause accumulation of …. in the environment |
| The followings are examples of genera of some denitrifying bacteria except |
| Dentrification is an …… process |
| Precipitation can occur as any of the following except |
| The three central elements in atmospheric chemistry are all of the above except |
| Observations of atmospheric composition are increasingly being made by |
| The release of water vapour from plants and soil into the air is known as |
| All of these human activities alter the water cycle except |
| The composition of the earth’s atmosphere changes as a result of some natural processes stated below except |
| Observations, Lab measurement & modelling are the three central elements in |
| Which of these materials is not used for manufacturing canoe |
| The branch of accounting that deals with the costs and benefits of pursuing an action is…. |
| The accountant that discusses always about costs of production, service and how costs are to be controlled is a…. |
| One of these is not element of Cost Accounting Information. |
| The method of costing used to determine the value of finished goods does not include one of the following: |
| A cost that remains the same regardless of changes in level of activity is called… |
| The cost of directing and controlling an organisation is called …… |
| Cost accounts are maintained to analyze in detail the statistics shown in the …. |
| The method of costing used when there are a variety of component parts to be separately produced is….. |
| Materials management is concerned basically with …. |
| The re-order level quantity is often referred to as… |
| The method of making a physical check on stores balances at frequent, irregular intervals is called…….. |
| The responsibility for setting standards in an organization rests on…… |
| The costs and benefits of closing down a department can be known through…. |
| A system which is self contained and does not exchange material, information or energy with the environment is called… |
| The method by which actual performance is compared with the predetermined performance is called… |
| The cost, less the residual value plus the cost of fixing, divided by the estimated years of life is the formula for calculating …… |
| An assumption that a linear relationship exists between activity and cost is made by……… |
| A contribution can be obtained using one of the the following formular. |
| It is called…..where wages are paid at an agreed rate per hour, day, or week, without reference to the quantity of work done. |
| The cost system used to cost jobs or contracts that are kept separate during manufacture or construction is called…….. |
| For book-keeping purposes, materials received in the latest delivery and deemed to have been issued first is…… |
| The method of costing where the product of one process becomes the material of a subsequent process is called…. |
| A company makes a single product with sales price N50, marginal cost N20, & fixed costs N200,000 pa. Compute C/s ratio. |
| A company makes a single product with sales price N50, marginal cost N20, & fixed costs N200,000 pa. Compute Breakeven(N). |
| The difference between the level of activity at breakeven point and the level of activity greater than that point is….. |
| The output range at which a firm is expected to operate within a short term planning horizon is called…… |
| A company makes a single product with sales price N100, marginal cost N40, & fixed costs N400,000 pa. Compute Breakeven(N). |
| A division/unit of an organization in which financial performance is measured on the basis of revenue less cost is called….. |
| The problem of Activity based Costing excludes one of the following |
| A form of costing which is used where a quantity of identical articles are produced together is called….. |
| The following are some common misconceptions about what curriculum is, except… |
| A curriculum is at best described as an educational … |
| Integrated Science emphasizes the fundamental… of science |
| These are decisions that determine curriculum design except… |
| Objectives, Contents, Learning experiences and Evaluation are essential … of a good curriculum design. |
| Appropriate evaluation instruments help to ascertain the the extent … are attained. |
| The main sources of aims and objectives are the learner, the subject matter and the … |
| …domain includes of interest, attitude, feelings, appreciation, etc. |
| Science Teachers Association of Nigeria (STAN) which was established in the year… |
| All these are participants in the development of integrated science curriculum except… |
| In planning the integrated science curriculum, the… approach to sequencing of content was adopted |
| Curriculum…is the process for discovering the extent to which the curriculum as designed, developed and implemented is producing or can produce the desired results in students. |
| All these are stages in integrated science curriculum implementation except… |
| These are problems of science curriculum in Nigerian secondary schools except… |
| Teachers need to be trained regularly to … their knowledge and skills. |
| Effective Integrated Science teachers are all these but … |
| Effective Integrated Science teachers have ability to… |
| Effective science teachers have ability to create opportunity for students’ … Involvement in instructional process. |
| The tasks of considering lesson duration, stating objectives, consulting relevant textbooks, selecting instructional materials to use etc, are best considered during lesson… |
| In course of lesson…, attention must be paid to students’ activities, class management, effectiveness of strategy, feedback from students etc. |
| At classroom level, a teacher can solve the problem of instructional resources through… |
| …entails making efforts to help students make connections to previous learning. |
| Evaluation process which is conducted as the lesson is in progress is described as… |
| Three major issues shaping the development of nations worldwide, are Entrepreneurship Education, Information and Communication Technology (ICT) and… |
| All these are curriculum development agencies in Nigeria except… |
| The … translates the curriculum into learning experiences to be passed across to learners. |
| All these are the communication functions of STAN except… |
| …encourages, promotes and co-ordinates educational research programmes carried out in Nigeria. |
| Curriculum …refers to changes and improvements made to the overall plan of studies that a school is making use of in its education of students |
| A good… is a product of well formulated objectives, learning experiences, relevant learning resources and workable evaluation procedures. |
| The following are some common misconceptions about what curriculum is, except… |
| A curriculum is at best described as an educational … |
| Integrated Science emphasizes the fundamental… of science |
| These are decisions that determine curriculum design except… |
| Objectives, Contents, Learning experiences and Evaluation are essential … of a good curriculum design. |
| Appropriate evaluation instruments help to ascertain the the extent … are attained. |
| The main sources of aims and objectives are the learner, the subject matter and the … |
| …domain includes of interest, attitude, feelings, appreciation, etc. |
| Science Teachers Association of Nigeria (STAN) which was established in the year… |
| All these are participants in the development of integrated science curriculum except… |
| In planning the integrated science curriculum, the… approach to sequencing of content was adopted |
| Curriculum…is the process for discovering the extent to which the curriculum as designed, developed and implemented is producing or can produce the desired results in students. |
| All these are stages in integrated science curriculum implementation except… |
| These are problems of science curriculum in Nigerian secondary schools except… |
| Teachers need to be trained regularly to … their knowledge and skills. |
| Effective Integrated Science teachers are all these but … |
| Effective Integrated Science teachers have ability to… |
| Effective science teachers have ability to create opportunity for students’ … Involvement in instructional process. |
| The tasks of considering lesson duration, stating objectives, consulting relevant textbooks, selecting instructional materials to use etc, are best considered during lesson… |
| In course of lesson…, attention must be paid to students’ activities, class management, effectiveness of strategy, feedback from students etc. |
| At classroom level, a teacher can solve the problem of instructional resources through… |
| …entails making efforts to help students make connections to previous learning. |
| Evaluation process which is conducted as the lesson is in progress is described as… |
| Three major issues shaping the development of nations worldwide, are Entrepreneurship Education, Information and Communication Technology (ICT) and… |
| All these are curriculum development agencies in Nigeria except… |
| The … translates the curriculum into learning experiences to be passed across to learners. |
| All these are the communication functions of STAN except… |
| …encourages, promotes and co-ordinates educational research programmes carried out in Nigeria. |
| Curriculum …refers to changes and improvements made to the overall plan of studies that a school is making use of in its education of students |
| A good… is a product of well formulated objectives, learning experiences, relevant learning resources and workable evaluation procedures. |
| Costs which can be economically be identified with a cost centre are called |
| A supervisor’s salary of N100,000 per month is an example of a |
| which of theses is the main attribute of variable costs? |
| which of the following is classified as indirect labour? |
| which of these falls under cost classifying on the basis of decision making? |
| The document required by the Purchase Department to enable it place an order for replenishment of stock is |
| Total material cost is made up of purchase cost, ordering cost and |
| Which of the following is a method of stock valuation? |
| What type of standard represents the level of performance attainable when prices for material and labour are most favorable? |
| The regulation of cost of operating a business and keeping costs within acceptable limits is called |
