Post Utme Pan Atlantic University 2021 Commerce Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Pan Atlantic University Commerce examination.

Post Utme Pan Atlantic University 2021 Commerce Objective / Multiple Choice
Question 36 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2021 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. However, in the event of a lawsuit, the owner's personal assets may be at risk. Which of the following best describes this situation?

Answer Options

A. Separate legal entity with limited liability
Correct Answer B. No separate legal entity with unlimited liability
C. Partnership with shared liability
D. Company with separate legal entity and limited liability
Correct Answer
B
Correct Option:
No separate legal entity with unlimited liability

About This Question

This is Post Utme Pan Atlantic University 2021 Commerce Question 36. It is one of the objective questions from the 2021 Post Utme Pan Atlantic University Commerce examination.

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