Post Utme Ui 2017 Commerce Question 26

Practice objective / multiple choice question 26 from the 2017 Post Utme Ui Commerce examination.

Post Utme Ui 2017 Commerce Objective / Multiple Choice

Question 26 POST_UTME_UI • 2017 • COMMERCE • objective

A sole trader operates a business and incurs a loss. What is the tax implication of this loss?

A. The loss can be set off against the trader's personal income

Correct Answer B. The loss can be carried forward to future years

C. The loss is not tax-deductible

D. The loss is subject to capital gains tax

Correct Answer

Correct Option:

The loss can be carried forward to future years

This is Post Utme Ui 2017 Commerce Question 26. It is one of the objective questions from the 2017 Post Utme Ui Commerce examination.

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