Post Utme Veritas University 2020 Commerce Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2020 Commerce Objective / Multiple Choice

Question 16 POST_UTME_VERITAS_UNIVERSITY • 2020 • COMMERCE • objective

A sole trader's business is not registered with the Corporate Affairs Commission (CAC). What is the legal implication of this?

Answer Options

A. The business is not liable for any debts incurred.

Correct Answer B. The business is not entitled to claim any tax relief.

C. The business is not required to file annual returns.

D. The business is not entitled to use the word 'Limited' in its name.

Correct Answer

Correct Option:

The business is not entitled to claim any tax relief.

About This Question

This is Post Utme Veritas University 2020 Commerce Question 16. It is one of the objective questions from the 2020 Post Utme Veritas University Commerce examination.

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