Download latest compilations of ANAN past questions and answers on this page. The ANAN professional exam past questions and answers are available for PEB and PEA exams of the Association of National Accountants of Nigeria. You can ace the up coming exams with PEB past questions as well as PEA past question papers, depending on the category or level of your examination. Candidates who registered for ANAN exams 2021 and are awaiting the examination date, are urged to study past question papers. That is why we are recommending ANAN past questions for you.
Table of Contents
ANAN Past Questions
ANAN Professional Exam past questions are compiled from 2015-2021 on this page which are available for download upon purchase. You download download this material through email or whatsapp. The material are provide for both PEB & PEA, as well as ANAN Resit Examination.
Free ANAN Past Questions
- Which financial statement, shows what a company owns and owes and its shareholders’ equity
a) Cash Flow Statement
b) Balance Sheet
c) None of these
d) Income Statement
2. Adjustment Entry for rent received in advance for next year would be _________
a) Cash A/C Dr To Rent A/C
b) Advanced Rent A/C Dr To Rent A/C
c) Rent Received A/C Dr To Rent Recieved in Advanced A/C
d) Cash A/C Dr To Rent Received In Advance A/C
3. Which of the following expenses should not be treated as capital expenditure?
a) The Fees Paid To Engineer Who Constructed The Plant.
b) Expenses Paid On Installation Of A Plant.
c) Legal Expenses Incurred To Defend A Suit Related To Title Of Patent. The Suit Has Been Lost
d) Cost Of Dismantling A Building In Case A New Building Is To Be Constructed On The Land
4. Earnings Per Share (EPS) is calculated by _________
a) Gross Profit / No. Of Equity Shareholders
b) Gross Profit / No. Of Ordinary Shares Outstanding
c) Net Profit / No. Of Ordinary Shares Outstanding
d) Net Profit / No. Of Equity Shareholders
5. The cost of erection of an old machine will be posted in the credit side of _________
a) None Of These
b) Cash Account
c) Machinery Account
d) Repairs And Renewal Account
6. Which accounting method, recognizes and records revenue and expenses when the product or service is actually sold to customers
a) accrual accounting
b) debit accounting
c) credit accounting
d) cash accounting
7. What is the aim of accounting standard ?
a) Ensuring Comparability Of Financial Statements
b) Standardize Diverse Accounting Policies
c) All of These
d) Lower The Accounting Dissimilarities
8. Which activity for accounting information, is covered by accounting function
a) recording information
b) identifying information
c) reporting information
d) All of these
9. Which financial statement, provides information on the profitability of a company over a period of time
a) Cash Flow Statement
b) Balance Sheet
c) Income Statement
d) None of these
10. Which of the following is not an limitation of an accounting standard ?
a) Cannot Countermand The Statute
b) Alternative Solutions To Certain Accounting Issues
c) Facilitate Comparison Of Financial Statements
d) A Trend May Occur Towards Rigidity And Digress From Flexibility In Utilizing The Accounting Standards.
11. Accounting treatment of a Capital Expenditure as Revenue expenditure creates _________
a) General Reserve
b) Capital Reserve
c) Revenue Reserve
d) Secret Reserve
12. Which of the following accounting assumption, dictates that the finances of the business are completely independent of the personal finances of any of the owners
a) Going Concern
b) None of these
c) Fixed Time Period
d) Separate Entity
e)
13. Which of the following documents is not relevant for vouching cash sales?
a) Bank Statement
b) Monthly Statements Sent To Customers
c) Daily Cash Sales Summary
d) Salesmen’s Summary
Important Information about ANAN Examinations
All papers in each diet of the examination are written in their sequential order, two papers per examination day. For example PEA I is written in the morning of day one and PEA II in the afternoon of day one. All six papers of a stream are written within three days. Similarly PEB I will take place in the morning of day one and PEB II in the afternoon, day one and all six PEB papers are written within three days. The same also apply to all Conversion class examinations.
Resit Examinations A candidate who is unable to pass all the six PEA/four Conversion A papers shall have the opportunity to re-sit the paper(s) failed during the re-sit examinations in March of the year he/she wrote the PEA examinations. A candidate unable to pass all the six PEB/Conversion B papers shall have chance to re-sit the paper or papers he/she failed during the PEB re-sit examination, in July of the year he/she wrote the PEB examination. 50% is the pass mark. Candidates that fail in four (4) subjects or more will be required to rewrite all the six subjects.
The Examination Rules and Regulations prohibit a candidate from: (a) Taking into the examination hall or possessing, while in that hall, any books, notes or other materials whether relevant or not to the paper being written except those which are provided in the Examination Docket; (b) Aiding or attempting to aid another candidate or obtaining or attempting to obtain aid from another candidate or supervisor; (c) Sitting in a position other than where his/her registration/examination number falls. (d) Refusing to obey any instruction from the Examination supervisor; and (e) Giving information which is false or misleading in any material particular to the Examination Supervisor.
Any candidate who commits examination malpractice is handed over to the police who are stationed at every examination hall every day of every examination, and later tried also by the examination committee whose recommendations are passed to the Council for ratification.
List of ANAN Past Questions Coverage
- Taxation
- Historical Overview in Nigeria
- Income Tax
- Personal Income Tax
- Company Income Tax
- The general system of administration of Nigeria tax, including assessments, collection, appeals, penalties and repayment claims
- Various classes of income
- Basis of assessment
- Computation of income
- Tax liability of individuals, including non-residents
- The treatment of business profits and losses in varying circumstances, relative to sole proprietors and partnerships
- Claims for capital allowances
- Back duty Assessment
- Capital Gains Tax
- Administration of capital gains tax and computation of chargeable gains
- Exemptions and reliefs, indexation allowance, quoted securities, Stocks and shares
- Capital transactions of partnership and companies
- Legatees and artificial transactions
- Petroleum Profit Tax
- Chargeable profit
- Treatment of losses
- Group and consolidated companies
- Petroleum profit tax, taxation of income from abroad: double taxation Relief – Individuals, companies and overseas subsidiaries
- Mergers, acquisitions and Takeover bids, Deferred Taxation
- Valued Added Tax
- Principles, Administration, Accounting and Penalties
List of ANAN PEA Courses/ Syllables
- Information Systems and Technology for Business
- Finance and Financial Management
- Entrepreneurial Development
- Auditing and Assurance Services
- Corporate Reporting
- Environmental, oil and Gas Accounting
- Professional Values and Ethics in Accounting
- Basic French
List of ANAN PEB Past Questions Courses
- Advanced Corporate Reporting
- Advanced Taxation
- Corporate Law
- Advanced Management Accounting
- Forensic Accounting
- Public Sector Accounting and Finance
- Corporate Governance
- Basic French II
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