Post Utme Futa 2024 Commerce Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Futa Commerce examination.

Post Utme Futa 2024 Commerce Objective / Multiple Choice
Question 31 POST_UTME_FUTA • 2024 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner's personal assets. However, if the business incurs a debt, the owner's personal assets can be used to settle the debt. What is the name of this legal concept?

Answer Options

Correct Answer A. Piercing the Corporate Veil
B. Limited Liability
C. Separate Legal Entity
D. Personal Liability
Correct Answer
A
Correct Option:
Piercing the Corporate Veil

About This Question

This is Post Utme Futa 2024 Commerce Question 31. It is one of the objective questions from the 2024 Post Utme Futa Commerce examination.

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