ANAN Past Questions and Answers | PDF Download (2025 Updated Edition)
ANAN Past Questions and Answers: Are you preparing for the Association of National Accountants of Nigeria (ANAN) examination? Do you want to excel and earn your professional certification on your first attempt? If so, this article is for you. Here, you will find essential information about the ANAN Past Questions and Answers PDF, including the exam structure, sample questions, and instructions on how to download the most recent version for 2025. Over 80% of the questions on the actual ANAN examination are repeated or adapted from these past questions.
About the ANAN Examination
The Association of National Accountants of Nigeria (ANAN) is a leading professional accounting body responsible for training and certifying accountants. Candidates earn the ANAN qualification by attending the Nigerian College of Accountancy (NCA) and passing professional exams, which are divided into various stages.
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Foundation Level
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Professional Level
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Final Level
These exams assess your knowledge of Accounting, Auditing, Taxation, Financial Management, Law, and Economics. Given the high competition and expectations, preparing with the ANAN Past Questions and Answers PDF provides you with the best advantage for success.
ANAN Exam Format
The ANAN exam is conducted on a computer and typically includes both objective and theoretical questions based on the subject matter. Major subjects covered are:
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Financial Accounting
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Management Accounting
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Auditing and Assurance
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Taxation
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Business Law
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Public Sector Accounting
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Economics and Financial Management.
Sample ANAN Past Questions and Answers (2025 Updated Edition)
Financial Accounting
1. Which of the following is not a characteristic of a liability?
A. It represents a present obligation.
B. It arises from past events.
C. It is settled by inflow of economic benefits.
D. It results in an outflow of resources.
✅ Answer: C. It is settled by inflow of economic benefits.
2. What is the double entry for depreciation of machinery?
A. Debit Depreciation, Credit Machinery
B. Debit Machinery, Credit Depreciation
C. Debit Cash, Credit Depreciation
D. Debit Profit & Loss, Credit Cash
✅ Answer: A. Debit Depreciation, Credit Machinery
Taxation
3. Which of the following taxes is paid by companies in Nigeria?
A. Capital Gains Tax
B. Value Added Tax
C. Company Income Tax
D. Personal Income Tax
✅ Answer: C. Company Income Tax
4. The tax authority responsible for collecting Value Added Tax in Nigeria is:
A. State Board of Internal Revenue
B. Local Government Revenue Committee
C. Federal Inland Revenue Service (FIRS)
D. Customs Service
✅ Answer: C. Federal Inland Revenue Service (FIRS)
Auditing
5. The main objective of an audit is to:
A. Detect all frauds and errors
B. Express an opinion on financial statements
C. Prepare financial statements
D. Control the management
✅ Answer: B. Express an opinion on financial statements
6. Which of these is an example of internal control?
A. Audit committee
B. Bank reconciliation
C. External audit
D. Annual report
✅ Answer: B. Bank reconciliation
Business Law
7. The doctrine of ultra vires in company law means:
A. Beyond the power of the company
B. Within the company’s power
C. Signed by the directors
D. Authorized by shareholders
✅ Answer: A. Beyond the power of the company
Public Sector Accounting
8. In government accounting, the term “vote book” refers to:
A. A record of employees
B. A register of public funds allocation
C. A ledger of salaries
D. A book of taxes
✅ Answer: B. A register of public funds allocation
Economics / Financial Management
9. The primary objective of financial management is to:
A. Maximize shareholders’ wealth
B. Minimize tax
C. Increase sales volume
D. Reduce production cost
✅ Answer: A. Maximize shareholders’ wealth
10. Which of the following is a liquidity ratio?
A. Debt to Equity Ratio
B. Current Ratio
C. Net Profit Margin
D. Earnings per Share
✅ Answer: B. Current Ratio
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