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WAEC Financial Accounting 2015 Question 43

Question 43

Public Sector Accounting

Which of the following is a source of revenue for a local government?

  1. A.Personal income tax.
  2. B.Company registration fees.
  3. C.Royalties.
  4. D.Market tolls.
Show the answer and explanation

Answer: D (Market tolls.)

Explanation

Market tolls are collected by local councils; the other sources belong to state or federal government.