pathfinder - The Institute of Chartered Accountants of Nigeria

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PATHFINDER5. RATES OF PERSONAL INCOME TAX:Taxable IncomeRate of TaxN %First 30,000 5Next 30,000 10Next 50,000 15Next 50,000 20Over 160,000 25Note: Annual income of N30,000 and below is exempted from tax but aminimum tax of 0.5% will be charged on the total income.6. COMPANIES INCOME TAX RATE 30%7. EDUCATION TAX 2%8. CAPITAL GAINS TAX 10%9. VALUE ADDED TAX 5%10. WITHHOLDING TAXESType of payment Rates Rates(Companies)(Non- corporate)Dividend, Interest, Rent 10% 10%Royalties 15% 15%Contract supplies 5% 5%Building construction activities 5% 5%Consultancy/Professional services 10% 5%Management services 10% 5%Commissions 10% 5%Technical services 10% 5%Directors fees 10% 10%INTERMEDIATE EXAMINATION - NOVEMBER 201066
PATHFINDERSOLUTIONS TO SECTION APART I: MULTIPLE-CHOICE QUESTIONS1. D2. E3. A4. B5. D6. A7. B8. C9. C10. E11. B12. E13. E14. C15. E16. B17. C18. C19. B20. CEXAMINERS‟ REPORTThe questions test various aspects of the Syllabus.Almost all the candidates attempted the questions and performance was good.Candidates are advised to cover the entire Syllabus to be able to perform betterin future.INTERMEDIATE EXAMINATION - NOVEMBER 201067
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PATHFINDERTABLE OF CONTENTSSUBJECTS
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PATHFINDER10. First in First out (F
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PATHFINDER1 19 912030 0 ES5TLSTX312
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PATHFINDER4. The formula for alloca
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PATHFINDERMaterials on site as at e
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PATHFINDERQUESTION 5The table below
Page 16 and 17: PATHFINDERWORKINGS12. EOQ =2CO D 21
Page 18: PATHFINDERWORKINGS13. Sample space
Page 21 and 22: PATHFINDERIt is recommended that:Ca
Page 23 and 24: PATHFINDERQUESTION 3OGBUEFI LIMITED
Page 25 and 26: PATHFINDERQUESTION 4(a)Euler-Venn d
Page 27 and 28: PATHFINDERP 0 Q 0 P 1 Q 1 Q 0 + Q 1
Page 29 and 30: PATHFINDEREXAMINERS‟ REPORT200 3
Page 31 and 32: PATHFINDER4. ONE of the following m
Page 33 and 34: PATHFINDER12. The auditor, in carry
Page 35 and 36: PATHFINDER19. Statutory Auditing ca
Page 37 and 38: PATHFINDER15. Section 29 of Banks a
Page 39 and 40: PATHFINDERQUESTION 5Auditing of com
Page 41 and 42: PATHFINDERPART II SHORT ANSWER QUES
Page 43 and 44: PATHFINDERany, in depreciation rate
Page 45 and 46: PATHFINDER(v)(vi)Creditors are able
Page 47 and 48: PATHFINDERvii. Natural disaster;vii
Page 49 and 50: PATHFINDERCandidates shied away fro
Page 51 and 52: PATHFINDEREXAMINERS‟ REPORTThe re
Page 53 and 54: PATHFINDERICAN/102/P/2EXAMINATION N
Page 55 and 56: PATHFINDER8. What is the term used
Page 57 and 58: PATHFINDER15. Which of the followin
Page 60 and 61: PATHFINDERSECTION B: ATTEMPT ANY FO
Page 62 and 63: PATHFINDERQUESTION 3Mr. James makes
Page 64 and 65: PATHFINDERQUESTION 6SOULINE Company
Page 68 and 69: PATHFINDERPART II: SHORT-ANSWER QUE
Page 70 and 71: PATHFINDERIncome tax payable 14,259
Page 72 and 73: PATHFINDERBased on the New Accounti
Page 74 and 75: PATHFINDERAll the above principles
Page 76 and 77: PATHFINDEREXAMINERS‟ REPORTPart (
Page 78 and 79: PATHFINDERCandidates are advised to
Page 80 and 81: PATHFINDERICAN/102/P/4EXAMINATION N
Page 82 and 83: E. Assessment.PATHFINDER9. All rese
Page 84 and 85: PATHFINDER17. Some students in the
Page 86 and 87: PATHFINDER15. The statistic that di
Page 88 and 89: PATHFINDERQUESTION 6A survey on the
Page 90 and 91: PATHFINDEREXAMINERS‟ REPORTThe qu
Page 94 and 95: PATHFINDERvi.vii.Information hoardi
Page 96 and 97: PATHFINDER(vii)Consideration: Commu
Page 98 and 99: PATHFINDERc ii.Cluster SamplingIt i
Page 102 and 103: PATHFINDEREXAMINERS‟ REPORT:The q
Page 104: PATHFINDERDecision:Since the calcul
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pathfinder - The Institute of Chartered Accountants of Nigeria

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