WAEC Accounting 2021 Objective — Question 25

Question 25 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.

The major source of revenue for the central federal government is

A. tenement rate
B. excise dutyCorrect
C. market toll
D. parking toll

Explanation

Excise duty is the major source of revenue to the central federal government, compared to tenement rate, market toll and parking toll which are local government revenue sources.

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