Post Utme Christopher University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • COMMERCE • objective

A sole trader's business is not required to register with the Corporate Affairs Commission (CAC) if its annual turnover is less than ₦25 million. Which of the following is a correct statement regarding this requirement?

Answer Options

A. The sole trader must register with the CAC regardless of its annual turnover.
Correct Answer B. The sole trader is exempt from registering with the CAC if its annual turnover is less than ₦25 million.
C. The sole trader must register with the CAC if its annual turnover exceeds ₦25 million.
D. The sole trader is not required to register with the CAC if it has fewer than 10 employees.
Correct Answer
B
Correct Option:
The sole trader is exempt from registering with the CAC if its annual turnover is less than ₦25 million.

About This Question

This is Post Utme Christopher University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Christopher University Commerce examination.

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