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

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

  • A.
    value added tax
  • B.
    statutory allocation
  • C.
    taxes and levies
  • D.
    recurrent revenue
Correct Answer: Option B
Explanation

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

 

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