Post Utme Noun 2019 Commerce Question 26

Practice objective / multiple choice question 26 from the 2019 Post Utme Noun Commerce examination.

Post Utme Noun 2019 Commerce Objective / Multiple Choice
Question 26 POST_UTME_NOUN • 2019 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. However, the owner is personally liable for all business debts. What is the name of this type of liability?

Answer Options

Correct Answer A. Unlimited liability
B. Limited liability
C. Joint and several liability
D. Strict liability
Correct Answer
A
Correct Option:
Unlimited liability

About This Question

This is Post Utme Noun 2019 Commerce Question 26. It is one of the objective questions from the 2019 Post Utme Noun Commerce examination.

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