Post Utme Rhema University 2020 Commerce Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2020 Commerce Objective / Multiple Choice
Question 36 POST_UTME_RHEMA_UNIVERSITY • 2020 • COMMERCE • objective

A sole trader's business is not registered under the Companies and Allied Matters Act, but it has a turnover of ₦5 million annually. What is the sole trader's tax liability under the Personal Income Tax Act?

Answer Options

Correct Answer A. ₦500,000
B. ₦1,000,000
C. ₦2,000,000
D. ₦3,000,000
Correct Answer
A
Correct Option:
₦500,000

About This Question

This is Post Utme Rhema University 2020 Commerce Question 36. It is one of the objective questions from the 2020 Post Utme Rhema University Commerce examination.

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