The use of Revenue Alocation fomula for sharing federation account revenue in Nigeria, originated fromQuestion 4Answera.American Administrationb.Colonial Administrationc.Portugies Administrationd.German Administration

The following were revenue allocation commission in Nigeria, except one:Question 1Answera.Binns (1964), Dina (1968) and Udoji (1979)b.Non of the abovec.Dina (1968), Aboyade (1977) and Okigbo (1980)d.Binns (1964), Dina (1968) and Aboyade (1977)

Nigerian income depends on.......imposed on individuals, businesses and corporate bodiesQuestion 5Answera.incidence of economyb.incidence of taxc.incidence of debtd.incidence of borrowing

According to International Accounting Standards “revenue is the gross inflow ofeconomic benefits during the period arising in the course of the ordinary activities”(IAS 18). Describe the main source of revenue for a trading goods business with anexample.

Government expenditure in Nigeria is classified under the following headings:Question 8Answera.Administration of Tax and Levy, Defense and Economic Developmentb.Administration of Law and Order, Police and Economic Developmentc.Administration of Law and Order, Defense and Economic Developmentd.Administration of Law and Order, Defense and Science Development

defines 'revenue'?