WAEC Accounting 2015 Objective — Question 43

Question 43 of 50 from the West African Examinations Council (WAEC) Accounting 2015 Objective paper, with the correct answer and a full explanation.

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

A. Personal income tax
B. Company income tax
C. Fees
D. Market tollsCorrect

Explanation

Market tolls/taxes are a source of revenue specifically for local government, unlike personal or company income taxes which typically accrue to state/federal government.

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