Post Utme Noun 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Noun Commerce examination.

Post Utme Noun 2017 Commerce Objective / Multiple Choice

Question 1 POST_UTME_NOUN • 2017 • COMMERCE • objective

A sole trader's business is not a legal entity separate from its owner. What is the implication of this on the owner's personal assets?

A. The owner's personal assets are protected from business liabilities.

Correct Answer B. The owner's personal assets are at risk of being used to settle business debts.

C. The owner's personal assets are not affected by the business's financial performance.

D. The owner's personal assets are transferred to the business upon incorporation.

Correct Answer

Correct Option:

The owner's personal assets are at risk of being used to settle business debts.

This is Post Utme Noun 2017 Commerce Question 1. It is one of the objective questions from the 2017 Post Utme Noun Commerce examination.

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