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Free download in PDF Public Finance Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, NDA, SSC etc. These short solved questions or quizzes are provided by Gkseries./p>
(1)
This is NOT a principle of taxation:
[A]
Principle of equality
[B]
Principle of certainty
[C]
Principle of secrecy
[D]
Principle of economy
Answer: Principle of secrecy
(2)
This is principle of taxation
[A]
Principle of honesty
[B]
Principle of morality
[C]
Principle of secrecy
[D]
Principle of economy
Answer: Principle of economy
(3)
In Pakistan, the authority to levy taxes lies with:
[A]
Prime minister of Pakistan
[B]
President of Pakistan
[C]
Federal cabinet of ministers
[D]
National assembly
Answer: National assembly
(4)
This tax is a good example of ability to pay principle of taxes:
[A]
Excise tax on cigarettes
[B]
Highway toll tax
[C]
Proportional sales tax
[D]
Personal income tax
Answer: Personal income tax
(5)
Govt. taxing and spending policies are called:
[A]
Monetary policy
[B]
Fiscal policy
[C]
Commercial policy
[D]
Finance policy
(6)
Govt. budget is balanced when:
[A]
Govt. expenditure is kept to the minimum
[B]
Govt. income consists of both tax and non-tax income
[C]
Government expenditure equals tax revenue
[D]
None of the above
Answer: Government expenditure equals tax revenue
(7)
Government finance is called:
[A]
National finance
[B]
Public finance
[C]
Official finance
[D]
(a) & (b) of above.
(8)
The government can meet its expenditure:
[A]
By taxing people
[B]
By printing new money
[C]
By borrowing from banks and foreign countries
[D]
By all the three methods
Answer: By all the three methods
(9)
It is direct tax:
[A]
Property tax
[B]
Income tax
[C]
Import tax
[D]
All are indirect taxes
(10)
Mansoor Software Co imported computers and paid import tax. Burden of tax will be on:
[A]
Importere
[B]
Wholesaler
[C]
Last buyer
[D]
Retailer
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