Post Utme Uniport 2023 Commerce Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Uniport Commerce examination.

Post Utme Uniport 2023 Commerce Objective / Multiple Choice
Question 16 POST_UTME_UNIPORT • 2023 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. However, the owner may be held personally liable for certain business debts. What is the name of this type of liability?

Answer Options

Correct Answer A. Unlimited liability
B. Limited liability
C. Joint and several liability
D. Strict liability
Correct Answer
A
Correct Option:
Unlimited liability

About This Question

This is Post Utme Uniport 2023 Commerce Question 16. It is one of the objective questions from the 2023 Post Utme Uniport Commerce examination.

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