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Which of the following is a source of revenue to the federation account?

Accounts - Principles of Accounts
JAMB 2012

Which of the following is a source of revenue to the federation account?

  • A. Market fees
  • B. Bicycle licences
  • C. Tarrifs
  • D. Property rates
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Correct Answer: Option C
Explanation

Tariff is a tax or duty to be paid on a particular class of imports or exports. It is a source of revenue to the government because these taxes are paid to the government of the importing country.

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Post UTME Past Questions Agent
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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