Education

ICAN Past Questions November 2015

ICAN Past Questions November 2015. For those who are writing the Institute of Chartered Accountants of Nigeria (ICAN) Examination this year and are worried about how the exams will be set, worry no more. There is good news right now and in this post, you will get to discover how you will come out with good grades in your examination.

Remember that before going for any examinations, maximum preparation is required to get success. That is why we went through to gather all the questions from past years that will help you to succeed. This past question covers how the examinations is patterned, important topics that do not miss out, and the simplest ways to answer these questions to suit the marking scheme.

 ICAN Past Questions November 2015

How is ICAN Past Questions Patterned

Normally, the ICAN Past Questions is patterned in multiple-choice. We have made it very easy for you. we bring all the questions for many years and put them together but we indicate the specific years of their occurrence. We provide the correct answers in order to save your time. All you need to do is to devote quality time to study the Past Questions in PDF Format and watch yourself change the narrative by scoring better than you expected.

Why You Need A Copy of ICAN Past Questions

You need this past question for the following under listed reasons;

Getting the ICAN Past Questions and taking time to study the content will expose you to the questions that have been asked years back as most of those questions and answers get repeated every year while some will just be rephrased. You will be losing out if you don’t get a copy for yourself.

One reason to use past questions is to form an excellent basis for revision in preparation for examinations and prevention of future mistakes by having a clear focus.

ICAN Past Questions Sample

In other to know that we are giving out the original ICAN Past Questions, we have decided to give you some free samples as proof of what we said earlier.

(1) Which of the items listed below is NOT an example of distribution overheads?

  • Upkeep and running of delivery vans
  • Samples and displays
  • Warehouse wages and salaries
  • Packing cases
  • Loading expenses

(2) Wages are paid at an agreed rate per hour, day or week without reference to work done in the following circumstances EXCEPT

  • Factory operatives’ work.
  • General laborers’ work.
  • Supervisors and inspectors’ work.
  • Where supervision is close.
  • Where measurement of work would not be simple.

(3) Which of the under-listed factors is NOT considered in computing Economic Order Quantity (EOQ)?

  • Reorder level
  • Annual demand
  • Cost of holding stock
  • Cost of ordering
  • Storage facility

(4) Over-absorption of overheads occurs where

  • Absorbed overheads exceed budgeted overheads.
  • Actual overheads exceed absorbed overheads.
  • Budgeted overheads exceed absorbed overheads.
  • Absorbed overheads exceed actual overheads.
  • Over-absorbed overheads exceed budgeted overheads.

(5) In marginal costing techniques, breakeven point is the level of activity where contribution is equal to

  • Profit plus tax.
  • Fixed cost plus profit.
  • Gross profit.
  • Fixed cost only.
  • Variable cost plus fixed cost

(6) In marginal costing techniques, breakeven point is the level of activity where contribution is equal to

  • Profit plus tax.
  • Fixed cost plus profit.
  • Gross profit.
  • Fixed cost only.
  • Variable cost plus fixed cost.

(7) In the accounts of a process costing system, scraps would be charged to

  • Cost Centre.
  • Abnormal loss account.
  • Profit and loss account.
  • Production control.
  • Product/job

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7 Tips to Prepare for ICAN 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 in top priority and not as a hobby. Read far and wide to enhance your level of aptitude
  2. Get Exams Preparation Materials: These involve textbooks, dictionaries, ICAN Past Questions November 2015, and others. These materials will enhance your mastering of the scope of the exams you are expecting.
  3. Attend Extramural Classes: Register and attend extramural classes at your location. This class will not only help you refresh your memory but will boast 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: During the exam preparation period, you are advised not to overeat, so as 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 to enhance retention.
  7. Reduce your time in social media: Some people live their entire life 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.

If you like these tips, consider sharing them with your friends and relatives. Do you have a question or comments? Put it on the comment form below. We will be pleased to hear from you and help you in every possible way.

good luck!

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