Post Utme Madonna University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_MADONNA_UNIVERSITY • 2024 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy aimed at increa\sing revenue from the agricultural sector. The policy requires farmers to pay a 10% tax on their annual income. If a farmer's annual income is ₦500,000, what is the amount of tax the farmer must pay?

Answer Options

Correct Answer A. ₦50,000
B. ₦60,000
C. ₦70,000
D. ₦80,000
Correct Answer
A
Correct Option:
₦50,000

About This Question

This is Post Utme Madonna University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Madonna University Economics examination.

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