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WAEC Economics 2002 Question 38

Question 38

Business Organisations

Which business organization enjoys tax-free profits in West Africa?

  1. A.Co-operative societies
  2. B.Private limited liability companies
  3. C.Joint stock companies
  4. D.Partnerships
Show the answer and explanation

Answer: A (Co-operative societies)

Explanation

Co-operative societies are usually exempted from company tax on their surplus.