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JAMB Principles of Accounts 1998 Question 1

Question 1

Introduction to Accounting

The Act establishing the Institute of Chartered Accountants of Nigeria (ICAN) came into force on

  1. A.1st September, 1960
  2. B.1st October, 1960
  3. C.1st October, 1963
  4. D.1st September, 1965.
Show the answer and explanation

Answer: D (1st September, 1965.)

Explanation

ICAN was set up by Act No. 15 of 1965, which took effect on 1st September 1965.