Post Utme Joseph Ayo Babalola University 2018 Commerce Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2018 Commerce Objective / Multiple Choice
Question 26 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2018 • COMMERCE • objective

A sole trader's business is not registered with the Corporate Affairs Commission (CAC). Which of the following is a consequence of this?

Answer Options

A. The sole trader is not liable for any debts incurred by the business.
Correct Answer B. The sole trader's business is not entitled to open a corporate bank account.
C. The sole trader's business is not required to file annual returns with the CAC.
D. The sole trader's business is not eligible for tax deductions.
Correct Answer
B
Correct Option:
The sole trader's business is not entitled to open a corporate bank account.

About This Question

This is Post Utme Joseph Ayo Babalola University 2018 Commerce Question 26. It is one of the objective questions from the 2018 Post Utme Joseph Ayo Babalola University Commerce examination.

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