Post Utme Greenfield University 2018 Commerce Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2018 Commerce Objective / Multiple Choice
Question 16 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • COMMERCE • objective

A sole trader's business is not required to register with the Corporate Affairs Commission (CAC) if its annual turnover is less than ₦5 million. Which of the following is a consequence of this requirement?

Answer Options

A. The sole trader is exempt from paying taxes.
Correct Answer B. The sole trader is not required to file annual returns.
C. The sole trader is not liable for any business debts.
D. The sole trader is not required to register for a tax identification number.
Correct Answer
B
Correct Option:
The sole trader is not required to file annual returns.

About This Question

This is Post Utme Greenfield University 2018 Commerce Question 16. It is one of the objective questions from the 2018 Post Utme Greenfield University Commerce examination.

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