Post Utme Coal City University 2024 Commerce Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2024 Commerce Objective / Multiple Choice
Question 11 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. However, in the event of the owner's death, the business may be affected by the following legal issues:

Answer Options

A. The business may be subject to inheritance tax.
B. The business may be forced to close due to lack of funding.
Correct Answer C. The business may be liable for the owner's personal debts.
D. The business may be required to pay a probate fee.
Correct Answer
C
Correct Option:
The business may be liable for the owner's personal debts.

About This Question

This is Post Utme Coal City University 2024 Commerce Question 11. It is one of the objective questions from the 2024 Post Utme Coal City University Commerce examination.

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