Post Utme Futo 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Futo Economics examination.

Post Utme Futo 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_FUTO • 2020 • ECONOMICS • objective

A government imposes a tax on a firm's profits. The tax rate is 20% of the profits. If the firm's profits before tax are ₦1,000,000, what is the amount of tax paid?

Answer Options

Correct Answer A. ₦200,000
B. ₦150,000
C. ₦250,000
D. ₦300,000
Correct Answer
A
Correct Option:
₦200,000

About This Question

This is Post Utme Futo 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Futo 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