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JAMB Principles of Accounts 2011 Question 46

Question 46

Public Sector Accounting

Which of the following accounts for the highest revenue to Nigeria?

  1. A.Import duties.
  2. B.Personal income tax.
  3. C.Petroleum resources.
  4. D.Company tax.
Show the answer and explanation

Answer: C (Petroleum resources.)

Explanation

Oil and gas earn most of Nigeria's government revenue.