Federal Finance System in India - General Knowledge Multiple Choice Questions and Answers | Page-10

91 Which of the following is an indirect tax?
A Estate Duty
B Wealth Tax
C Excise Duty
D Capital Gains Tax

Answer: Option [C]
92 Taxes on professions can be levied by:
A State government only
B Union government only
C Both by state and union government
D By Panchayats only

Answer: Option [A]
93 Which one is not a function of money?
A Value measurement
B Price stabilisation
C Store of value
D Transfer of value

Answer: Option [B]
94 “Closed Economy” means:
A No provision for public sector
B No provision for private sector
C Economy policy not well defined
D A country having no imports and exports

Answer: Option [D]
95 Which of the following subjects does not figure in the Concurrent List of our Constitution?
A Forests
B Trade unions
C Stock Exchanges and futures markets
D Protection of wild animals and birds

Answer: Option [C]
96 Debenture holders of a company are its
A Directors
B Debtors
C Creditors
D Shareholders

Answer: Option [C]
97 Savings rate is relatively low in developed economies because of
A Welfare programmes
B High interest rate
C Low per capital income
D Liquidity/Borrowing constraint

Answer: Option [A]
98 The terms ‘Bull’ and ‘Bear’ are associated with
A Internet Trade
B Stock Market
C Foreign Trade
D Banking

Answer: Option [B]
99 Taxes are as certain as the death, because
A Most PSU s are run inefficiently
B Government has its own budget constraints
C Government have no other source of revenue
D They constitute the major source of government revenue

Answer: Option [D]

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