passwella.
Menu

WAEC Financial Accounting 2021 Question 25

Question 25

Public Sector Accounting

The major source of revenue for central/federal government is

  1. A.tenement rate.
  2. B.excise duty.
  3. C.market toll.
  4. D.parking toll.
Show the answer and explanation

Answer: B (excise duty.)

Explanation

Excise duty is a central government tax; rates and tolls go to local councils.