Post Utme Skyline University 2023 Commerce Question 17

Practice objective / multiple choice question 17 from the 2023 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2023 Commerce Objective / Multiple Choice
Question 17 POST_UTME_SKYLINE_UNIVERSITY • 2023 • COMMERCE • objective

A sole trader, Mr. A, has a business that generates an average annual profit of ₦500,000. If he decides to incorporate his business, what will be the tax implications for him?

Answer Options

A. He will pay more taxes as a sole trader.
B. He will pay the same amount of taxes as a sole trader.
Correct Answer C. He will pay less taxes as a sole trader.
D. He will pay no taxes as a sole trader.
Correct Answer
C
Correct Option:
He will pay less taxes as a sole trader.

About This Question

This is Post Utme Skyline University 2023 Commerce Question 17. It is one of the objective questions from the 2023 Post Utme Skyline University Commerce examination.

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