The major sources of revenue for the state and local governments is

Accounts - Principles of Accounts JAMB 2016

The major sources of revenue for the state and local governments is

  • value added tax
  • statutory allocation checkmark
  • taxes and levies
  • recurrent revenue

The correct answer is: B

Explanation

Statutory allocation; this is the grant from the federal government to the state  and local government.

 

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