Post Utme Rhema University 2021 Commerce Question 24

Practice objective / multiple choice question 24 from the 2021 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2021 Commerce Objective / Multiple Choice
Question 24 POST_UTME_RHEMA_UNIVERSITY • 2021 • COMMERCE • objective

A sole trader has a business that generates a profit of ₦200,000 per year. The sole trader's personal income tax rate is 20%. What is the sole trader's personal income tax liability for the year?

Answer Options

A. ₦40,000
Correct Answer B. ₦50,000
C. ₦60,000
D. ₦80,000
Correct Answer
B
Correct Option:
₦50,000

About This Question

This is Post Utme Rhema University 2021 Commerce Question 24. It is one of the objective questions from the 2021 Post Utme Rhema University Commerce examination.

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