Multiple Choice Questions on Public Finance

Questions

1 Taxes are levied to:

A Penalise people

B Provide direct benefits to tax payers

C Provide general benefits for the people

D To accumulate funds

View Answer

Answer: Provide general benefits for the people

2 Whom of the following propounded principles of taxation:

A Keynes

B Marshall

C Adam Smith

D Al Ghazali

View Answer

Answer: Adam Smith

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3 Taxes on commodities are:

A Direct taxes

B Indirect taxes

C Progressive taxes

D Proportional taxes

View Answer

Answer:Indirect taxes

4 Govt. prepares its budget:

A Weekly

B Monthly

C Quarterly

D Annually

View Answer

Answer:Annually

5 One of the following is NOT a feature of private finance:

A Balancing of income and expenditure

B Secrecy

C Saving some part of income

D Publicity

View Answer

Answer:Publicity

6 One of the following is NOT a feature of private finance:

A Publicity

B Secrecy

C Efforts to balance income and expenditure

D Taking steps to increase income

View Answer

Answer: Secrecy

7 It is direct tax:

A Excise tax

B Sales tax

C Income tax

D Custom duty

View Answer

Answer: Income tax

8 These are heads of expenditure of the government EXCEPT?

A Provide social services

B Defence

C Improve transport and communication

D Provide cosmetics

View Answer

Answer:Provide cosmetics

9 The most important source of income of a government is:

A Foreign loans

B Taxes

C Printing of new money

D Sale of government property

View Answer

Answer:Taxes

10 Progressive taxes:

A Increase government revenue

B Bring equality in distribution of incomes

C Act as penalty for rich people

D Both (a) & (b)

View Answer

Answer:Both (a) & (b)

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