Post Utme Babcock University 2023 Commerce Question 36

Practice objective / multiple choice question 36 from the 2023 Post Utme Babcock University Commerce examination.

Post Utme Babcock University 2023 Commerce Objective / Multiple Choice

Question 36 POST_UTME_BABCOCK_UNIVERSITY • 2023 • COMMERCE • objective

A sole trader's business is not separate from their personal life. Which of the following is a correct statement regarding the taxation of a sole trader?

Answer Options

A. A sole trader's business income is taxed at a higher rate than their personal income.

Correct Answer B. A sole trader's business income is taxed at the same rate as their personal income.

C. A sole trader's business income is taxed at a lower rate than their personal income.

D. A sole trader's business income is not taxed separately from their personal income.

Correct Answer

Correct Option:

A sole trader's business income is taxed at the same rate as their personal income.

About This Question

This is Post Utme Babcock University 2023 Commerce Question 36. It is one of the objective questions from the 2023 Post Utme Babcock University Commerce examination.

View More Post Utme Babcock University 2023 Commerce Questions More Post Utme Babcock University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support