Noun Past Questions pdf

Q1 A person entitled to the income of a deceased could be called  .Q2 The acronym WREN stands for,    _, 

Q3 For a sole trader to be assessed to tax, he must have been in business for years.

Q4  occurs when a basis period is common to more than one assessment year.

Q5 The methods of obtaining loss relief are current year and loss relief systems.

Q6  profit is assessed using the preceding year’s basis.

Q7 Shops, Kiosks rates, tenant rates, etc are levies collected by.

Q8 An incorporated company is expected to register with the FBIR within months after incorporation.

Q9 Which tax laws impose a tax on gains arising from the disposal of chargeable assets listed in the Act? 

Q10 A tax is productive, when it brings to the government.

Q11 A system that assesses tax payers on a fixed percentage is known as  __.

Q12 Taxation in Nigeria was introduced in the year.

Q13 A form of tax assessable directly on the taxpayers who are required to pay tax on their property income etc is called.

Q14 The normal basis period does not apply because there will be no profit.

Q15 Fixed assets qualify for the grant because they are categorized as capital expenditures.

Q16  is defined as a scheme whereby tax on an employee’s income is deducted at source by the employer.

Q17  is the difference between taxable profits and the expected normal profit.

Q18 When a person dies and leaves no valid will or leaves a will but has not disposed of his property by the will, is called.

Q19  is a person receiving an annuity that may be charged on the income of an estate.

Q20 A  is a person to whom a legacy is bequeathed or receiving a specific bequest from an estate.

Q21 Capital Allowance for construction companies is  according to the degree of work done

Q22 Double taxation relief is an international treaty set up by the – for the avoidance of double taxation.

Q23  ratio is used in ascertaining the amount of capital allowance to be allowed.

Q24 Income tax liability is the percent of total profits.

Q25 Banks in Nigeria are encouraged to grant agricultural loans to farmers at interest rates.

Q26 Value-added tax, stamp duties, exercise duties, etc are examples of 

Q27  is a system of raising money for governance from individual persons or corporate bodies

Q28  One of these is not among the cannons of taxation

Q29 Taxation started in 1904 and was introduced by 

Q30 A form of tax where the tax payable decreases as the taxpayer’s income increases is known as 

Q31  tax replaced sales tax. It is imposed on the supply of goods and services by business

Q32  is used as an instrument of economic regulation to discourage or encourage certain forms of social behaviour

Q33 The organs of tax administration that advise the Federal Government on requests in respect of double taxation arrangements with any other country is 

Q34 A taxable person is expected to register with the relevant tax authority within  months

Q35 An incorporated company is expected to register with the FBIR   months after incorporation

Q36  is granted when a company carrying on a trade or business obtains a consideration in acquiring new assets of the same class as the old ones

Q37 The normal basis period does not apply   because there will be no profit from the preceding accounting period from which the assessment is derived

Q38 The preceding year’s basis of assessment implies that the profits that will be assessed to tax in the year 2009, will be the profit of the year 

Q39 Where losses occur in a business, assessment of tax interest is 

Q40  is a type of allowance that arises when a qualifying capital expenditure is disposed of

Q41 Fixed assets are categorized as capital expenditure because they qualify for the grant of 

Q42  occurs when a basis period is common to more than one year of assessment

Q43 For a sole trader to be assessed to tax, he must have been in business for at least years from the date of commencement.

7 Tips to Prepare for Noun  Exams

1. Don’t make reading your hobby: A lot of people put reading as a hobby in their CV, they might be right because they have finished schooling. But “You” are still schooling, so reading should be a top priority, not a hobby. Read far and wide to enhance your level of aptitude
2. Get Exams Preparation Materials: These involve textbooks, dictionaries, Babcock University Post UTME Past Questions and Answers, mock questions, and others. These materials will enhance your mastery of the scope of the exams you are expecting.
3. Attend Extramural Classes: Register and attend extramural classes at your location. This class will help you refresh your memory and boost your classroom understanding and discoveries of new knowledge.
4. Sleep when you feel like: When you are preparing for any exams, sleeping is very important because it helps in the consolidation of memory. Caution: Only sleep when you feel like it and don’t oversleep.
5. Make sure you are healthy: Sickness can cause excessive feelings of tiredness and fatigue and will not allow you to concentrate on reading. If you are feeling as if you are not well, report to your parent, a nurse, or a doctor. Make sure you are well.
6. Eat when you feel like it: During the exam preparation period, you are advised not to overeat, and to avoid sleep. You need to eat little and light food whenever you feel like eating. Eat more fruits, drink milk and glucose. This will help you enhance retention.
7. Reduce your time on social media: Some people live their entire lives on Facebook, Twitter, WhatsApp, Messenger chat. This is so bad and catastrophic if you are preparing for exams. Try and reduce your time spent on social media during this time. Maybe after the exams, you can go back and sleep in it.

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