Post Utme Greenfield University 2022 Commerce Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2022 Commerce Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. However, this separation is not absolute. Discuss the implications of this separation on the owner's personal liability.

Answer Options

A. The owner's personal assets are completely protected from business debts.
B. The owner's personal assets are partially protected from business debts.
Correct Answer C. The owner's personal assets are completely liable for business debts.
D. The owner's personal assets are partially liable for business debts.
Correct Answer
C
Correct Option:
The owner's personal assets are completely liable for business debts.

About This Question

This is Post Utme Greenfield University 2022 Commerce Question 1. It is one of the objective questions from the 2022 Post Utme Greenfield University Commerce examination.

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