Post Utme Rhema University 2020 Commerce Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2020 Commerce Objective / Multiple Choice
Question 20 POST_UTME_RHEMA_UNIVERSITY • 2020 • COMMERCE • objective

A sole trader has a business income of ₦1,000,000 and a business expense of ₦500,000. If the sole trader wants to pay a tax of 20% on its business income, how much tax will the sole trader pay?

Answer Options

A. ₦100,000
Correct Answer B. ₦150,000
C. ₦200,000
D. ₦250,000
Correct Answer
B
Correct Option:
₦150,000

About This Question

This is Post Utme Rhema University 2020 Commerce Question 20. It is one of the objective questions from the 2020 Post Utme Rhema University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support