Question Tag: Employment

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TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)

Definitions and explanations related to the taxation of employment income as per the Personal Income Tax Act.

Question

The Personal Income Tax Act Cap P8 LFN 2004 (as amended) defines employment to include any appointment or office whether public or otherwise for which remuneration is payable. An employer shall register with the relevant tax authority for the purposes of deducting income tax from its employees with or without formal notification or direction by the relevant tax authority.

Required:
a. Define an “itinerant worker”. (2 Marks)
b. Explain the conditions for taxation of income from employment. (10 Marks)
c. State the penalties payable by employers who failed to file returns of emoluments paid to employees in the preceding year on January 31, of each year, with the relevant tax authority. (8 Marks)

Answer

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Tags: Employment, Itinerant Workers, Personal income tax, Tax Compliance, Tax Penalties
Level: Level 1

Topic: Personal Income Tax
Series: MAY 2021

BL – May 2018 – L1 – SA – Q18 – Employment Law

Identify the period during which an employer retains the right to confirm or not confirm an employee's appointment.

Question

The period of time during which an employer retains the right to confirm or not to confirm the appointment of the employee is known as the period of
A. Protection
B. Redundancy
C. Overtime
D. Probation
E. Judicial Intention

Answer

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Tags: Contracts, Employment, Probation
Level: Level 1

Topic: Employment law
Series: MAY 2018

BL – Nov 2014 – L1 – SB – Q1c – Law of Tort

Explain vicarious liability with examples and assess the liability of an employer when an employee deviates from instructions and causes injury.

Question

i. Vicarious liability is an aspect of the law of torts.
Explain vicarious liability briefly, and give TWO examples of a situation in which it occurs.
(4 Marks)

ii. ‘X’ employed ‘Y’ as a driver and asked ‘Y’ to take a parcel to X’s head office. ‘Y’ decided to visit a friend who lives five kilometres away from the route to X’s office. On his way, ‘Y’ knocked down ‘A’ and injured him. ‘A’ wants to sue ‘X’.
Required:
Can ‘A’ successfully sue ‘X’? State your reasons.
(6 Marks)

Answer

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Tags: Employment, Law of Tort, Negligence, Vicarious Liability
Level: Level 1

Topic: Law of Tort
Series: NOV 2014

BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

Question

State TWO benefits and ONE drawback each of profession, employment, and businesses with copious examples.

Answer

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Tags: Business Examples, Business Types, Employment, Profession
Level: Level 1

Topic: The Business Environment
Series: MAY 2022

BMF – May 2022 – L1 – SB – Q2 – The Role of Professional Accountants in Business and Society

Explain stakeholder mapping and communication style in employment.

Question

The main stakeholders in a business organisation, internal or external, are those who exercise the greatest influence.

Required:
a. Briefly explain the concept of “stakeholder mapping” and state FIVE main features of employment.
(10 Marks)
b. Define the term “communication style” and explain briefly THREE components of communication style.
(10 Marks)

Answer

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Tags: Communication Style, Employment, Stakeholder Mapping
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2022

BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

Question

Economic activities in a nation comprise of professional services, businesses, or employment. The following statements in respect of economic activities are correct, EXCEPT:

A. Most businesses need employees to carry out their operations
B. Most employees do not contribute entrepreneurship to the economy
C. A growing economy does not need entrepreneurs and innovation to sustain its growth
D. Professionals and individuals in other specialised vocations contribute specialised skills
E. Professionals contribute value to clients and individuals by providing service of a high standard

Answer

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Tags: Business Environment, Economic Activities, Employment, Entrepreneurship, Professional Services
Level: Level 1

Topic: The Business Environment
Series: MAY 2023

BL – MAY 2016 – L1 – SA – Q19 – Employment Law

This question addresses the purpose of the probationary period in employment.

Question

The probationary period of employment is to test the employee’s
A. Skill and suitability
B. Obedience
C. Eloquence
D. Emotions
E. Background

Answer

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Tags: Employee Testing, Employment, Probationary Period
Level: Level 1

Topic: Employment law
Series: MAY 2016

BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

Question

c. On the basis of qualification, nature of work, establishment, and motive, distinguish between profession and employment. (4 Marks)

Answer

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Tags: Employment, Organizational Structure, Profession
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2024

BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

Question

Which of the following is NOT a feature of a profession?
A. Admit new members to the profession
B. Award qualifications to individuals who achieve a required standard of skill or competence
C. Expel members from the profession for professional conduct
D. High entry requirements
E. An extensive period of rigorous academic training in a particular area

Answer

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Tags: Business Management, Career, Employment, Profession
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

PT – May 2020 – L2 – Q3b – Scope and computation of income tax for individuals and partnerships.

Characteristics of a contract of service from a taxation perspective.

Question

b) It is necessary to find out whether an activity carried out by an individual amounts to a profession (contract for service) or employment (contract of service). From a taxation point of view, there is the existence of employment where there is a contract of service.

Required:
What are the characteristics of a contract of service?
(6 marks)

Answer

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Tags: Characteristics, Contract for Service, Contract of Service, Employment
Level: Level 2

Topic: Income Tax Liabilities
Series: MAY 2020

TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)

Definitions and explanations related to the taxation of employment income as per the Personal Income Tax Act.

Question

Answer

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Tags: Employment, Itinerant Workers, Personal income tax, Tax Compliance, Tax Penalties
Level: Level 1

Topic: Personal Income Tax
Series: MAY 2021

BL – May 2018 – L1 – SA – Q18 – Employment Law

Identify the period during which an employer retains the right to confirm or not confirm an employee's appointment.

Question

Answer

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Tags: Contracts, Employment, Probation
Level: Level 1

Topic: Employment law
Series: MAY 2018

BL – Nov 2014 – L1 – SB – Q1c – Law of Tort

Explain vicarious liability with examples and assess the liability of an employer when an employee deviates from instructions and causes injury.

Question

i. Vicarious liability is an aspect of the law of torts.
Explain vicarious liability briefly, and give TWO examples of a situation in which it occurs.
(4 Marks)

Answer

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Tags: Employment, Law of Tort, Negligence, Vicarious Liability
Level: Level 1

Topic: Law of Tort
Series: NOV 2014

BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

Question

State TWO benefits and ONE drawback each of profession, employment, and businesses with copious examples.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Examples, Business Types, Employment, Profession
Level: Level 1

Topic: The Business Environment
Series: MAY 2022

BMF – May 2022 – L1 – SB – Q2 – The Role of Professional Accountants in Business and Society

Explain stakeholder mapping and communication style in employment.

Question

The main stakeholders in a business organisation, internal or external, are those who exercise the greatest influence.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Communication Style, Employment, Stakeholder Mapping
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2022

BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

Question

Economic activities in a nation comprise of professional services, businesses, or employment. The following statements in respect of economic activities are correct, EXCEPT:

Answer

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Tags: Business Environment, Economic Activities, Employment, Entrepreneurship, Professional Services
Level: Level 1

Topic: The Business Environment
Series: MAY 2023

BL – MAY 2016 – L1 – SA – Q19 – Employment Law

This question addresses the purpose of the probationary period in employment.

Question

The probationary period of employment is to test the employee’s
A. Skill and suitability
B. Obedience
C. Eloquence
D. Emotions
E. Background

Answer

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Tags: Employee Testing, Employment, Probationary Period
Level: Level 1

Topic: Employment law
Series: MAY 2016

BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

Question

c. On the basis of qualification, nature of work, establishment, and motive, distinguish between profession and employment. (4 Marks)

Answer

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Tags: Employment, Organizational Structure, Profession
Level: Level 1

Topic: Business and Organizational Structures and Choices
Series: MAY 2024

BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

Question

Answer

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Tags: Business Management, Career, Employment, Profession
Level: Level 1

Topic: The Role of Professional Accountants in Business and Society
Series: MAY 2024

PT – May 2020 – L2 – Q3b – Scope and computation of income tax for individuals and partnerships.

Characteristics of a contract of service from a taxation perspective.

Question

Required:
What are the characteristics of a contract of service?
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Characteristics, Contract for Service, Contract of Service, Employment
Level: Level 2

Topic: Income Tax Liabilities
Series: MAY 2020

Question Tag: Employment

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TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)

Definitions and explanations related to the taxation of employment income as per the Personal Income Tax Act.

You're reporting an error for "TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)"

BL – May 2018 – L1 – SA – Q18 – Employment Law

Identify the period during which an employer retains the right to confirm or not confirm an employee's appointment.

You're reporting an error for "BL – May 2018 – L1 – SA – Q18 – Employment Law"

BL – Nov 2014 – L1 – SB – Q1c – Law of Tort

Explain vicarious liability with examples and assess the liability of an employer when an employee deviates from instructions and causes injury.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q1c – Law of Tort"

BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

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BMF – May 2022 – L1 – SB – Q2 – The Role of Professional Accountants in Business and Society

Explain stakeholder mapping and communication style in employment.

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BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

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BL – MAY 2016 – L1 – SA – Q19 – Employment Law

This question addresses the purpose of the probationary period in employment.

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BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

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BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

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PT – May 2020 – L2 – Q3b – Scope and computation of income tax for individuals and partnerships.

Characteristics of a contract of service from a taxation perspective.

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TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)

Definitions and explanations related to the taxation of employment income as per the Personal Income Tax Act.

You're reporting an error for "TAX – May 2021 – L1 – SB – Q3 – Personal Income Tax (PIT)"

BL – May 2018 – L1 – SA – Q18 – Employment Law

Identify the period during which an employer retains the right to confirm or not confirm an employee's appointment.

You're reporting an error for "BL – May 2018 – L1 – SA – Q18 – Employment Law"

BL – Nov 2014 – L1 – SB – Q1c – Law of Tort

Explain vicarious liability with examples and assess the liability of an employer when an employee deviates from instructions and causes injury.

You're reporting an error for "BL – Nov 2014 – L1 – SB – Q1c – Law of Tort"

BMF – May 2022 – L1 – SB – Q3a – The Business Environment

Stating benefits and drawbacks of profession, employment, and business with examples.

You're reporting an error for "BMF – May 2022 – L1 – SB – Q3a – The Business Environment"

BMF – May 2022 – L1 – SB – Q2 – The Role of Professional Accountants in Business and Society

Explain stakeholder mapping and communication style in employment.

You're reporting an error for "BMF – May 2022 – L1 – SB – Q2 – The Role of Professional Accountants in Business and Society"

BMF – May 2023 – L1 – SA – Q7 – The Business Environment

Identify an incorrect statement about economic activities in a nation

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BL – MAY 2016 – L1 – SA – Q19 – Employment Law

This question addresses the purpose of the probationary period in employment.

You're reporting an error for "BL – MAY 2016 – L1 – SA – Q19 – Employment Law"

BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices

Distinction between profession and employment based on qualification, nature of work, establishment, and motive.

You're reporting an error for "BMF – May 2024 – L1 – SB – Q4c – Business and Organizational Structures and Choices"

BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Identifying a feature that is not part of a profession's characteristics.

You're reporting an error for "BMF – May 2024 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society"

PT – May 2020 – L2 – Q3b – Scope and computation of income tax for individuals and partnerships.

Characteristics of a contract of service from a taxation perspective.

You're reporting an error for "PT – May 2020 – L2 – Q3b – Scope and computation of income tax for individuals and partnerships."

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