JAMB Accounting 2017 Objective — Question 12

Question 12 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2017 Objective paper, with the correct answer and a full explanation.

The major sources of revenue for state and local government are

A. A. value added tax
B. B. statutory allocation
C. C. taxes and leviesCorrect
D. D. recommended revenue

Explanation

Taxes and levies collected locally are a major independent revenue source for state and local governments.

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