Post Utme Osustech 2023 Commerce Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Osustech Commerce examination.

Post Utme Osustech 2023 Commerce Objective / Multiple Choice
Question 32 POST_UTME_OSUSTECH • 2023 • COMMERCE • objective

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

Answer Options

Correct Answer A. The sole trader is personally liable for business debts
B. The sole trader can transfer ownership to another person
C. The sole trader's business is taxed separately from their personal income
D. The sole trader's business is not subject to bankruptcy laws
Correct Answer
A
Correct Option:
The sole trader is personally liable for business debts

About This Question

This is Post Utme Osustech 2023 Commerce Question 32. It is one of the objective questions from the 2023 Post Utme Osustech Commerce examination.

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