Post Utme Bowen University 2023 Commerce Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2023 Commerce Objective / Multiple Choice
Question 6 POST_UTME_BOWEN_UNIVERSITY • 2023 • COMMERCE • objective

A sole trader's business is registered under the Companies and Allied Matters Act (CAMA). What is the primary implication of this registration?

Answer Options

A. The sole trader is now a company limited by shares.
B. The sole trader is exempt from paying personal income tax.
Correct Answer C. The sole trader's business is now subject to the provisions of CAMA.
D. The sole trader's business is now a partnership.
Correct Answer
C
Correct Option:
The sole trader's business is now subject to the provisions of CAMA.

About This Question

This is Post Utme Bowen University 2023 Commerce Question 6. It is one of the objective questions from the 2023 Post Utme Bowen University Commerce examination.

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