TAXATION II (ACC 318) SEMESTER TEST
- Please note that this is an online based test and it’s an open invigilation process i.e. individual partakers are required to follow the instructions provided.
- Please be informed that the questions in this exam spans across all questions in this lesson and as such candidate are advised to be aware of non-related lesson questions.
- Do not close the Exam Window or try to restart the system after clicking “Start Test” button.
- Each question is followed by four alternative answer marked as A, B, C and D. The candidate shall choose the most appropriate answer to each question and mark the same through click of mouse or touch against the appropriate answer. Chosen answer will be highlighted and will automatically be saved. The questions are answered at once within the stipulated examination time.
- Candidates can make changes in their answer already chosen/marked since all questions are displayed.
- Candidates are advised not to click the “finish” button when note done with the entire exam question as this action will not allow backwards or a return options
- Countdown clock will start on commencement of the test question and will be displayed on the top of the Test. Note allowed time is 30 minutes for all questions.
- In case of restarting / shut down of computer due to technical reasons, immediately report the same to the organizing body (Leadpreneur Academy). Answers already marked and time of the testwill be saved and the candidate will be able to resume the test from the exact point that last appeared before him/her.
- Make sure you are fully ready to start the exam before clicking the start test button
Good Luck and Success.
0 of 15 questions completed
You have already completed the exam before. Hence you can not start it again.
Exam is loading…
You must sign in or sign up to start the exam.
You must first complete the following:
Time has elapsed
Q. 1. This is the era where the Finance Miscellaneous Decree of ………. The 1993 PITA ensures that all taxable individuals, corporate entities (sole or group) are taxed nationwide and the relevant rates applied as appropriate. was amended.
Q. 2. The ……… PITA ensures that all taxable individuals, corporate entities (sole or group) are taxed nationwide and the relevant rates applied as appropriate.
Q. 3. The Nigerian taxation systems and laws have undergone tremendous development and amendments.
Q. 4. The two types of income are …………… and ………………?
Q. 5. ……………… is specifically refers to all incomes that emanates from a trade, business, profession, vocation or employment, carried on or exercised by an individual.
Q. 6. ………………………… refers to income from sources other than those gotten from employment, business or reward for services rendered.
Q. 7. In a bid to maintain integrity in the tax system, encourage tax compliance and minimize the costs of tax collection, stipulated penalties are usually levied on different categories of tax offences.
Q. 8. Taxpayers at most times attempt to avoid tax in order not to alter or deplete their income level.
Q. 9. All levels of government need funds to finance their activities.
Q. 10. …………… is the process or machinery by which communities or groups of persons are made to contribute in some agreed quantum and method for the purpose of the administration and development of the society.
Q. 11. Taxes can be levied to cover the cost of administration, internal and external defense, maintenance of law and order as well as social services required by the citizens.
Q. 12. The ………………….. are the basic principles of taxation that guide tax administration as well as the implementation of the provisions of relevant tax laws?
Q. 13. A good tax system should be equitable in the distribution of tax burden.
Q. 14. A good tax system should be coherent, simple and straight forward.
Q. 15. This relates to cost of administering tax. It provides that the imposition of tax is uneconomical if the cost of collection is in excess of revenue generated.