Post Utme Osustech 2025 Commerce Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Osustech Commerce examination.

Post Utme Osustech 2025 Commerce Objective / Multiple Choice

Question 38 POST_UTME_OSUSTECH • 2025 • COMMERCE • objective

A sole trader in Nigeria is required to keep records of all financial transactions. What is the purpose of keeping these records?

Answer Options

A. To facilitate the preparation of tax returns

Correct Answer B. To provide evidence of financial transactions for auditing purposes

C. To enable the sole trader to keep track of income and expenses

D. To comply with the requirements of the Companies and Allied Matters Act 2020

Correct Answer

Correct Option:

To provide evidence of financial transactions for auditing purposes

About This Question

This is Post Utme Osustech 2025 Commerce Question 38. It is one of the objective questions from the 2025 Post Utme Osustech Commerce examination.

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