Post Utme Uniport 2024 Commerce Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Uniport Commerce examination.

Post Utme Uniport 2024 Commerce Objective / Multiple Choice
Question 11 POST_UTME_UNIPORT • 2024 • COMMERCE • objective

A sole trader's business is considered a separate legal entity from its owner. Discuss the implications of this separation on the owner's personal liability.

Answer Options

A. The owner's personal assets are protected from business liabilities.
Correct Answer B. The owner's personal assets are at risk of being seized to settle business debts.
C. The business is not required to pay taxes on its profits.
D. The business is not required to file annual returns with the relevant authorities.
Correct Answer
B
Correct Option:
The owner's personal assets are at risk of being seized to settle business debts.

About This Question

This is Post Utme Uniport 2024 Commerce Question 11. It is one of the objective questions from the 2024 Post Utme Uniport Commerce examination.

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