Post Utme Wellspring University 2019 Economics Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2019 Economics Objective / Multiple Choice
Question 24 POST_UTME_WELLSPRING_UNIVERSITY • 2019 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy aimed at increa\sing revenue from the agricultural sector. The policy requires farmers to pay a 10% tax on their annual income. If a farmer's annual income is ₦500,000, how much tax will they pay?

Answer Options

Correct Answer A. ₦50,000
B. ₦40,000
C. ₦30,000
D. ₦20,000
Correct Answer
A
Correct Option:
₦50,000

About This Question

This is Post Utme Wellspring University 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Wellspring University Economics examination.

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