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WAEC Financial Accounting 2006 Question 17

Question 17

Public Sector Accounting

Which of the following is not a source of revenue to a government?

  1. A.Taxation
  2. B.Sale of goods
  3. C.Imposition of fines
  4. D.Grants
Show the answer and explanation

Answer: B (Sale of goods)

Explanation

Government does not normally earn its revenue by trading goods.