Category: Economics

These are principles of taxation?

A. Principle of equality B. Principle of certainty C. Principle of secrecy D. Both (a) & (b) Right Answer: Both (a) & (b)

Progressive taxes?

A. Increase government revenue B. Bring equality in distribution of incomes C. Act as penalty for rich people D. Both (a) & (b) Right Answer: Both (a) & (b)

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 Right Answer: Taxes

These are heads of expenditure of the government EXCEPT?

A. Provide social services B. Defence C. Improve transport and communication D. Provide cosmetics Right Answer:  Provide cosmetics

It is direct tax?

A. Excise tax B. Sales tax C. Income tax D. Custom duty Right Answer:  Income tax

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 Right Answer: Secrecy

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 Right Answer: Publicity

Govt. prepares its budget?

A. Weekly B. Monthly C. Quarterly D. Annually Right Answer: Annually

Taxes on commodities are?

A. Direct taxes B. Indirect taxes C. Progressive taxes D. Proportional taxes Right Answer: Indirect taxes

Whom of the following propounded principles of taxation?

A. Keynes B. Marshall C. Adam Smith D. Al Ghazali Right Answer: Adam Smith