ICAN Business, Management and Finance 2021
Past Questions

Abuja Capital Ltd, a Nigerian resident company, received a dividend of ₦12,000,000 from its 60% subsidiary, Kano Textiles Ltd, in 2023. Under CITA (as amended), what is the CIT treatment of this divid…

Porter's Five Forces model is used to assess industry competitiveness. Which of the following scenarios in the Nigerian fast-moving consumer goods (FMCG) sector would MOST LIKELY indicate HIGH bargain…

Zenith Manufacturing Plc is appraising a new project with the following cash flows: initial investment of ₦50,000,000; net cash inflows of ₦18,000,000 per annum for four years; cost of capital 12%. Th…

Delta Agro-Allied Limited employs 2,400 staff across six geographically dispersed states in Nigeria. The Chief Human Resources Officer is evaluating the optimal span of control. If the organisation cu…

Under the Companies and Allied Matters Act (CAMA) 2020, which of the following provisions MOST directly influences the formal organisational structure of a public company incorporated in Nigeria?

Under the Companies and Allied Matters Act (CAMA) 2020, the Board of Directors of ABC Manufacturing Plc resolves to delegate certain operational decisions to the Managing Director. The Managing Direct…

Emeka Chukwu, the Production Manager of Innoson Vehicle Manufacturing Company, sets a production target of 500 vehicles per month for his team. At month-end, only 420 vehicles were produced. He compar…

Aisha Bello, CEO of Kaduna Textile Mills Limited, is reviewing operational costs. The company employs 200 workers at an average monthly wage of ₦85,000 each. The company pays 10% employer Pension Fund…

A branch manager of a Nigerian commercial bank notices that two employees performing identical roles receive different salaries — Mr. Eze earns ₦480,000 per month while Mrs. Adeyemi earns ₦360,000 per…

A manufacturing company in Port Harcourt employs 200 workers. Following the implementation of a new piece-rate incentive scheme, average monthly output per worker increased from 500 units to 650 units…

A manufacturing company in Port Harcourt uses a distribution channel where goods move from the manufacturer to a wholesaler, then to a retailer, and finally to the end consumer. This channel structure…

In the context of Philip Kotler's Five Product Levels model, the air-conditioned comfortable seats, in-flight entertainment, and complimentary meals offered by a Nigerian airline beyond the core benef…

Nestlé Nigeria Plc is evaluating its product portfolio using the Boston Consulting Group (BCG) Matrix. A product with a high relative market share operating in a low-growth market generates substantia…

Which of the following BEST describes the primary function of financial markets in an economy?

A company's ordinary shares are currently trading at ₦18.00 on the Nigerian Exchange Group. The company just paid a dividend of ₦1.20 per share, and dividends are expected to grow at a constant rate o…

Ibadan Solar Plc is computing its Weighted Average Cost of Capital (WACC). The company has the following market-value capital structure: Equity ₦600,000,000 (cost of equity 20%), 12% Bonds ₦400,000,00…

Kano Textiles Plc is evaluating a finance lease versus an operating lease for a ₦80,000,000 weaving machine. Under IFRS 16, which statement correctly distinguishes the financial reporting impact of a …

Abuja Foods Limited purchases raw materials worth ₦54,000,000 annually on credit. The average trade payables balance is ₦7,500,000. The raw materials holding period is 60 days, work-in-progress period…

Stakeholder theory, as advanced by R. Edward Freeman, argues that a corporation's primary ethical obligation is to:

QUESTION 2 Dangiwa Agro-Allied Industries Limited (DAAI) is a medium-sized agro-processing company headquartered in Kano, with processing plants in Kaduna and Katsina. The company was founded by Alha…

QUESTION 3 Chidi Okonkwo is the newly appointed Head of Human Resources at Prestige Microfinance Bank Limited, a rapidly growing financial institution with branches in Enugu, Onitsha, and Owerri. The…

Lagoon Microfinance Bank (LMB) is a fast-growing microfinance institution licensed by the Central Bank of Nigeria (CBN), with branches in Lagos, Ogun, and Oyo States. The bank recently conducted a sta…

Sunshine Insurance Brokers Nigeria Limited (SIBNL) is a medium-sized insurance brokerage firm based in Port Harcourt, Rivers State. The firm provides life insurance, health insurance, and property ins…

QUESTION 1 Adekunle & Sons Limited is a medium-sized manufacturing company based in Lagos, Nigeria. The company produces consumer goods and has been in operation for fifteen years. The Board of Direc…

QUESTION 3 Delta Agro-Allied Industries Plc (DAAI) is a large agro-processing conglomerate quoted on the Nigerian Exchange Group (NGX). The company processes palm oil, groundnut oil, and cassava-base…

QUESTION 2 Nigerian National Petroleum Company Limited (NNPC Ltd) recently published its maiden Sustainability Report following its conversion from a government corporation to a limited liability com…