Accounting JAMB

Which of the following is a source of revenue to the federation account?

A. Market fees
B. Bicycle licenses
C. Tariffs
D. Property rates

Correct Answer:

Option C – Tariffs

Explanation

Tariff is a tax or duty to be paid on a particular class of imports or exports. It is a source of revenue to the government because these taxes are paid to the government of the importing country.

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