Sources and Classifications of Government Revenue
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Questions and Answers

Match the following with their corresponding revenue sources before the 1989 budget:

Head 1 = Indirect Taxes Head 2 = Direct Taxes Head 6 = Direct Allocation Head 10 = Fees

Match the following with their corresponding revenue sources after the 1989 Budget but before the 1994 fiscal year modification:

Federation Account Revenue Heads = Group a Value-Added Tax (VAT) = Group b Federal Government Account Revenue Heads = Group c

Match the following with their corresponding revenue sources after the 1994 fiscal year modification:

Federation Account Revenue Heads = Group a Value-Added Tax (VAT) = Group b Federal Government Account Revenue Heads = Group c

Match the following with their corresponding revenue sources before the 1989 budget:

<p>Head 8 = Licences and Land Revenue Head 12 = Rent of Government Property Head 14 = Interests and Repayments (State Government) Head 16 = Armed Forces</p> Signup and view all the answers

Match the following with their corresponding revenue sources before the 1989 budget:

<p>Head 3 = Mining Head 7 = Direct Taxes (PAYE) Head 9 = Mining (Solid Minerals) Head 15 = Reimbursements</p> Signup and view all the answers

Match the following with their corresponding revenue sources after the 1989 Budget but before the 1994 fiscal year modification:

<p>Head 11 = Earnings and Sales Head 13 = Interests and Repayments (General) Head 17 = Miscellaneous Value-Added Tax (VAT) =</p> Signup and view all the answers

What was the classification of Federal Government revenue sources prior to the 1989 budget?

<p>Indirect Taxes, Direct Taxes, Mining, Direct Allocation, and more</p> Signup and view all the answers

What major change occurred in the classification of Federal Government revenue sources in the 1989 Budget?

<p>The revenue sources were reclassified into Federation Account and Federal Government Account Revenue Heads</p> Signup and view all the answers

What was one of the specific revenue heads under the Federal Government's revenue sources prior to the 1989 budget?

<p>Direct Taxes (PAYE)</p> Signup and view all the answers

Which type of revenue source was introduced after the 1994 fiscal year modification?

<p>Value-Added Tax (VAT)</p> Signup and view all the answers

What was the purpose of modifying the classification of Federal Government revenue sources in 1994?

<p>To simplify and streamline the tracking of revenue</p> Signup and view all the answers

Which revenue head was part of the Federal Government's revenue sources after the 1989 Budget but before the 1994 fiscal year modification?

<p>Licences and Land Revenue</p> Signup and view all the answers

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