Principle of economy
Principle of convenience
Principle of simplicity
Principle of certainty
Correct answer is D
The principle of certainty states that a tax should be certain and clear to everybody concerned. The time of payment, the manner of payment and the amount to be paid should be clear and plain to the tax payer.
Government uses all of the following ways to redistribute income, except
Market intervention
Transfer earnings
Limited liability
Taxation
Correct answer is C
Limited liability is not a mechanism Government use to redistribute income. Government redistribute income in the following ways: taxation, welfare, public services, land reform, monetary policies etc.
..................... is the highest body in ECOWAS organogram
Authority of Head of State and Government
The Executive Secretariat
The Defense Council
Council of Ministers
Correct answer is A
The authority of heads of state and government is the foremost, and the highest authority of the organization. It is made up of heads of state and government within the sub-region. This organ is headed by a chairman, who holds office for one year.
Alternative commodities forgone
Amount of money spent on goods and services
Cost of goods and services
True cost
Correct answer is C
Real cost is the cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
JAMB Subjects
Aptitude Tests