Post Utme Summit University 2017 Commerce Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Summit University Commerce examination.

Post Utme Summit University 2017 Commerce Objective / Multiple Choice

Question 31 POST_UTME_SUMMIT_UNIVERSITY • 2017 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. Discuss this statement, highlighting the advantages and disadvantages of this arrangement.

Answer Options

A. The sole trader's business is not a separate legal entity from its owner.

Correct Answer B. The sole trader's business is a separate legal entity from its owner, but with limited liability.

C. The sole trader's business is a separate legal entity from its owner, with no liability.

D. The sole trader's business is not a separate legal entity from its owner, with unlimited liability.

Correct Answer

Correct Option:

The sole trader's business is a separate legal entity from its owner, but with limited liability.

About This Question

This is Post Utme Summit University 2017 Commerce Question 31. It is one of the objective questions from the 2017 Post Utme Summit University Commerce examination.

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