Post Utme Unilorin 2018 Commerce Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Unilorin Commerce examination.

Post Utme Unilorin 2018 Commerce Objective / Multiple Choice

Question 11 POST_UTME_UNILORIN • 2018 • COMMERCE • objective

A sole trader's business is registered under the Companies and Allied Matters Act 2020. Which of the following is a consequence of this registration?

Answer Options

Correct Answer A. The sole trader is required to file annual returns with the Corporate Affairs Commission.

B. The sole trader is exempt from paying personal income tax.

C. The sole trader is required to maintain a separate business bank account.

D. The sole trader is not required to obtain a business license.

Correct Answer

Correct Option:

The sole trader is required to file annual returns with the Corporate Affairs Commission.

About This Question

This is Post Utme Unilorin 2018 Commerce Question 11. It is one of the objective questions from the 2018 Post Utme Unilorin Commerce examination.

View More Post Utme Unilorin 2018 Commerce Questions More Post Utme Unilorin Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support