Which of the following source of income is spectacular only to Government ?
ECONOMICS
JAMB 2017
Which of the following source of income is spectacular only to Government ?
- A. Payment from business transfer
- B. Bonuses
- C. Tax
- D. Wages
Correct Answer: C. Tax
Explanation
Tax, government generate income or revenues by taxing individual and corporate bodies. This process is referred to as taxation. Taxation is the act or method of imposing a compulsory levy by the government or it's agency on individuals and firms or on goods and services. Tax is the compulsory levy imposed by the government or it's agency on individuals and firm or on goods and services
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *