pathfinder - The Institute of Chartered Accountants of Nigeria

PATHFINDERICAN/102/P/2EXAMINATION NO...................................THE INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIAINTERMEDIATE EXAMINATION – NOVEMBER 2010TAXATIONTime allowed – 3 hoursSECTION A: Attempt All QuestionsPART I: MULTIPLE-CHOICE QUESTIONS(20 Marks)1. What are the relevant years during which the right to elect by the tax payer isexercised under commencement rules?A. 1 st and 2 nd years of assessmentB. 1 st and 3 rd years of assessmentC. 1 st and 4 th years of assessmentD. 2 nd and 3 rd years of assessmentE. 3 rd and 4 th years of assessment.2. What are the two types of loss reliefs?A. Adjusted loss relief and company loss reliefB. Current year loss relief and permanent loss reliefC. Terminal loss relief and ultimate loss reliefD. Current year loss relief and last year loss reliefE. Current year loss relief and carry forward loss relief.3. In which year of assessment can initial allowance be claimed?A. 1 st year of assessmentB. 2 nd year of assessmentC. 3 rd year of assessmentD. 4 th year of assessmentE. All the years of assessment.INTERMEDIATE EXAMINATION - NOVEMBER 201053