Post Utme Redeemers University 2019 Economics Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2019 Economics Objective / Multiple Choice
Question 31 POST_UTME_REDEEMERS_UNIVERSITY • 2019 • ECONOMICS • objective

The government of Nigeria has implemented a new tax policy aimed at increa\sing revenue from the agricultural sector. The policy requires farmers to pay a 10% tax on their annual sales. If a farmer sells 1000 bags of rice at ₦5000 each, what is the total tax payable?

Answer Options

Correct Answer A. ₦50,000
B. ₦50,000
C. ₦50,000
D. ₦50,000
Correct Answer
A
Correct Option:
₦50,000

About This Question

This is Post Utme Redeemers University 2019 Economics Question 31. It is one of the objective questions from the 2019 Post Utme Redeemers University Economics examination.

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