Gce Model Questions Vol1 2022 Civic Education Question 24
Practice objective / multiple choice question 24 from the 2022 Gce Model Questions Vol1 Civic Education examination.
A citizen registers a business and pays the required registration fee of \(\text{₦}10{,}000\). The government later imposes a 5 % annual business tax on revenue. If the business earns \(\text{₦}500{,}000\) in its first year, how much tax must the citizen pay, and does paying this tax satisfy the citizen's fiscal responsibility for that year?
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About This Question
This is Gce Model Questions Vol1 2022 Civic Education Question 24. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Civic Education examination.
Difficulty level: Easy .
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