Revenue from the State Lotteries is classified as a:

Challenger App

★

1M+ Downloads

ATax revenue

BNon-tax revenue

CGrants and aids

DInterest income

Answer:

Revenue from government-run lotteries is a form of commercial revenue and is therefore a type of non-tax revenue receipt.

Related Questions:

Consider the following statements regarding the ‘Progressive taxation’:

I.Progressive taxation method has increasing rates of tax for increasing value or volume on which the tax is being imposed.

II.Progressive taxation method has increasing rates of tax for decreasing value or volume on which the tax is being imposed.

III. The idea of Progressive taxation is less tax on the people who earn less and higher tax on the people who earn more.

Which of the following statement(s) is/are correct?