Post Utme Wellspring University 2018 Commerce Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2018 Commerce Objective / Multiple Choice
Question 36 POST_UTME_WELLSPRING_UNIVERSITY • 2018 • COMMERCE • objective

A company's sole trader has an annual turnover of ₦5,000,000. Assuming a tax rate of 20% and a profit margin of 15%, calculate the sole trader's tax liability.

Answer Options

A. ₦750,000
B. ₦1,000,000
Correct Answer C. ₦1,250,000
D. ₦1,500,000
Correct Answer
C
Correct Option:
₦1,250,000

About This Question

This is Post Utme Wellspring University 2018 Commerce Question 36. It is one of the objective questions from the 2018 Post Utme Wellspring University Commerce examination.

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