Post Utme Covenant University 2023 Commerce Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2023 Commerce Objective / Multiple Choice
Question 32 POST_UTME_COVENANT_UNIVERSITY • 2023 • COMMERCE • objective

A sole trader has a business that generates an annual profit of ₦500,000. If the sole trader's tax rate is 25%, how much tax will the sole trader pay?

Answer Options

Correct Answer A. ₦125,000
B. ₦150,000
C. ₦175,000
D. ₦200,000
Correct Answer
A
Correct Option:
₦125,000

About This Question

This is Post Utme Covenant University 2023 Commerce Question 32. It is one of the objective questions from the 2023 Post Utme Covenant University Commerce examination.

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