Post Utme Uniben 2020 Commerce Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Uniben Commerce examination.

Post Utme Uniben 2020 Commerce Objective / Multiple Choice

Question 1 POST_UTME_UNIBEN • 2020 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. Which of the following is a consequence of this separation?

Correct Answer A. The owner is personally liable for the business's debts.

B. The business is taxed separately from its owner.

C. The owner has unlimited liability for the business's actions.

D. The business is not required to file annual accounts.

Correct Answer

Correct Option:

The owner is personally liable for the business's debts.

This is Post Utme Uniben 2020 Commerce Question 1. It is one of the objective questions from the 2020 Post Utme Uniben Commerce examination.

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