ICAN Business, Management and Finance 2022
Past Questions

Eko Plastics Limited, a manufacturer in Lagos, recorded total taxable profits of ₦85,000,000 for the year ended 31 December 2023. The company has been in operation for twelve years. What is the Compan…

Zenith Manufacturing Limited operates with clearly defined job roles, a strict chain of command, and standardised procedures. The Managing Director recently noted that employees rarely take initiative…

Lagoon Consulting Group restructured its operations by grouping employees from Finance, IT, and Operations into project-specific teams while retaining their functional departments. The Group Chief Exe…

Global Logistics Nigeria Limited has a span of control of 6 managers per supervisor. The company has 1,296 frontline operatives at the lowest level. Assuming a uniform span of control of 6 at every le…

According to Abraham Maslow's Hierarchy of Needs, a newly employed accountant at a Nigerian audit firm is primarily motivated by receiving a competitive salary that covers rent, food, and transportati…

Under the Companies and Allied Matters Act (CAMA) 2020, the Board of Directors of Emerald Resources Plc wishes to implement a long-term incentive plan for its executive directors to align their motiva…

Victor Vroom's Expectancy Theory of motivation is based on three variables. A senior tax consultant at a Big Four firm in Abuja believes that working overtime will improve her performance appraisal sc…

The situational leadership model developed by Hersey and Blanchard identifies four leadership styles matched to follower readiness levels. A newly recruited graduate trainee at a Nigerian insurance co…

Under the Labour Act Cap L1 LFN 2004, the maximum number of ordinary working hours per day for an adult worker, beyond which overtime rates must apply, is:

A company's HR department is evaluating its recruitment process. The total cost of recruiting a new Finance Manager was ₦2,400,000. The manager's annual salary package is ₦9,600,000. What is the recru…

Dangote Cement Plc sets the price of a new product at ₦18,000 per bag, which is significantly higher than competitors, to signal superior quality and recover research costs quickly. This pricing strat…

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…

Eko Manufacturing Plc issues 5,000,000 ordinary shares at ₦10 par value for ₦14 per share. What amount will be credited to the Share Premium Account?

Port Harcourt Energy Plc has the following capital structure: ₦500,000,000 in 15% debentures and ₦1,000,000,000 in ordinary equity. The company's effective income tax rate under CITA is 30%. What is t…

Kano Textiles Limited has annual credit sales of ₦120,000,000. Its receivables collection period is 75 days. The company considers a 1.5% early settlement discount to cut the collection period to 30 d…

A company's auditor discovers that management has deliberately understated an environmental liability of ₦25,000,000 in the financial statements to avoid negative publicity about a pollution incident.…

Prestige Bank Plc reports a pre-tax profit of ₦2,400,000,000 for the financial year ended 31 December 2023. The board resolves to commit 1.5% of this profit to CSR initiatives as recommended by the Ce…

QUESTION 3 Lagos State Government recently commissioned a performance audit of the Lagos Metropolitan Area Transport Authority (LAMATA). The audit revealed significant governance and management failu…

QUESTION 3 Zenith Petrochemicals Plc is a publicly quoted company on the Nigerian Exchange Group (NGX). The company is planning a significant capital restructuring exercise and has engaged Obi & Asso…

QUESTION 3 Abuja Power Generation Company Plc (APGC) is a publicly quoted company on the Nigerian Exchange Group (NGX). The company generates and sells electricity under a Power Purchase Agreement (P…