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JAMB Economics 1989 Question 35

Question 35

Public Finance

The three major groups of government revenue are

  1. A.investment income, direct tax and indirect tax
  2. B.import duties, excise tax and export duties
  3. C.company tax, personal income tax and import duties
  4. D.company tax, import duties and excise tax.
Show the answer and explanation

Answer: A (investment income, direct tax and indirect tax)

Explanation

Government revenue comes mainly from direct taxes, indirect taxes and income from its own investments and enterprises.