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what is the total revenue from non tax sources

Economics
WAEC 2015

EXPECTED REVENUE
Items Amount ($m)
Rents and royalties 75.00
Company income tax 150.00
Custom and excise duties 300.20
personal income tax 80.00
Fees and fines 60.00
value added tax 100.00

Use the information to answer the following question 

what is the total revenue from non tax sources

  • A. $400.20 m
  • B. $375.20 m
  • C. $135.00 m
  • D. $75.00 m
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Correct Answer: Option C
Explanation

Total revenue can be written as P × Q, which is the price of the goods multiplied by the quantity of the sold goods.
Non-tax revenue or non-tax receipts are revenue not generated from taxes and from the table above, only rents and royalties do not fall under taxes. 

They include 

rents and Royalties + fees and fines
75.00 + 60.00 = 135.00m


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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free