Post Utme Bowen University 2021 Commerce Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2021 Commerce Objective / Multiple Choice

Question 3 POST_UTME_BOWEN_UNIVERSITY • 2021 • COMMERCE • objective

A sole trader in Nigeria is required to keep records of all financial transactions. What is the primary purpose of keeping these records?

Answer Options

A. To calculate tax liability

Correct Answer B. To prepare financial statements

C. To identify areas for cost reduction

D. To demonstrate compliance with tax laws

Correct Answer

Correct Option:

To prepare financial statements

About This Question

This is Post Utme Bowen University 2021 Commerce Question 3. It is one of the objective questions from the 2021 Post Utme Bowen University Commerce examination.

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