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WAEC Economics 1999 Question 34

Question 34

Public Finance

Which of the following is not an item of capital expenditure?

  1. A.Construction of highways
  2. B.Building of dams
  3. C.Payment of salaries and wages
  4. D.Building of a new university
Show the answer and explanation

Answer: C (Payment of salaries and wages)

Explanation

Salaries and wages are recurrent expenditure; the others create lasting assets.