Post Utme Lead City University 2023 Commerce Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2023 Commerce Objective / Multiple Choice
Question 1 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. Which of the following is a consequence of this separation?

Answer Options

Correct Answer A. The sole trader's business is not liable for the owner's personal debts.
B. The sole trader's business is not entitled to the owner's personal assets.
C. The sole trader's business is not subject to the owner's personal taxes.
D. The sole trader's business is not required to file separate tax returns.
Correct Answer
A
Correct Option:
The sole trader's business is not liable for the owner's personal debts.

About This Question

This is Post Utme Lead City University 2023 Commerce Question 1. It is one of the objective questions from the 2023 Post Utme Lead City University Commerce examination.

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