Post Utme Futa 2020 Economics Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Futa Economics examination.

Post Utme Futa 2020 Economics Objective / Multiple Choice
Question 26 POST_UTME_FUTA • 2020 • ECONOMICS • objective

A government imposes a tax on a firm's profits. The tax rate is 20% of the profit. If the firm's profit is ₦100,000, what is the amount of tax paid?

Answer Options

Correct Answer A. ₦20,000
B. ₦30,000
C. ₦40,000
D. ₦50,000
Correct Answer
A
Correct Option:
₦20,000

About This Question

This is Post Utme Futa 2020 Economics Question 26. It is one of the objective questions from the 2020 Post Utme Futa Economics 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