Multiple choice

Taxes raised are credited into

  1. consolidated fund

  2. contingency fund

  3. public accounts

  4. private accounts
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A Correct answer
Explanation

Taxes raised by the government are credited into the Consolidated Fund, which is the main government account under constitutional provisions. The Contingency Fund is for emergency expenses, Public Accounts handle trust money and debt, and there is no 'private accounts' category in government accounting. All tax revenue must flow through the Consolidated Fund.

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