pathfinder - The Institute of Chartered Accountants of Nigeria

PATHFINDER11. If the calculated tax is lower than the statutory minimum tax, the difference isA. subtracted from the Statutory minimum tax.B. payable in addition to the calculated tax.C. carried back to the first preceding taxable year.D. carried back to the third preceding taxable year.E. carried back to the 2 nd preceding taxable year.12. “Child” in respect to settlements, trusts, and estates includes all the followingEXCEPTA. step child.B. adopted child.C. illegitimate child.D. own child.E. brother.13. A person appointed by a Will or Codicil of a deceased person to administer hisestate after his death is called ……….A a trustee.B a beneficiary.C an investor.D an administrator.E an executor.14. What is the time limit within which a tax payer must appeal after theadjudication by a Commissioner for Stamp duties?A. 7 daysB. 14 daysC. 21 daysD. 28 daysE. 30 daysINTERMEDIATE EXAMINATION - NOVEMBER 201056