Which of the following is not a revenue to a local government?

Assessment: WAEC SSCE - Financial Accounting - 2012 (Objective) Subject: Financial Accounting

Question 1 Report

Which of the following is not a revenue to a local government?

Answer Details
Personal income tax is not a revenue to a local government. Personal income tax is a tax on the income of individuals and is collected by the federal or state government, depending on the country. Local governments may have their own taxes and revenue sources, such as fines, licenses, and tenement rates, which are fees charged to property owners for the use of local services. Therefore, the correct answer is "personal income tax."
Read lesson note on Public Sector Accounting (JAMB)
Read lesson note on Accounts Of Not-for-profit-making Organizations (JAMB)
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