This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 12 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 2 TYPES OF EVALATION FOR OUTCOME BASE BUDGETING SYSTEM A) SUMMATIVE & FORMATIVE EVALUATION. B) PROCESS & SUMMATIVE EVALUATION . C) PLACEMENT & SUMMATIVE EVALUATION. D) DIAGNOSTIC & MONITORNG EVALUATION. Show Answer Correct Answer: A) SUMMATIVE & FORMATIVE EVALUATION. 2. The amount that a government owes to those who have loaned it money. A) Deficit. B) Debt. C) Surplus. D) None of above. Show Answer Correct Answer: B) Debt. 3. This propaganda was used during the ..... A) Korean War. B) Vietnam War. C) Great War. D) None of above. Show Answer Correct Answer: C) Great War. 4. The stabilization function aims to A) Prevent the economy from going through the business cycle. B) Eliminate the business fluctuations. C) Reduce the impact of these business cycle on the economy. D) B and c. Show Answer Correct Answer: D) B and c. 5. It is an institution jointly operated by industrialists, workers, and government. and benefits are allowed to all injured persons irrespective of their status and economic need whereas the benefit of social security is allowed strictly based on need and requirements. A) Social Insurance. B) Social security. C) Social protection. D) Social welfare. Show Answer Correct Answer: A) Social Insurance. 6. When Ed>Es, more incidence is on A) Buyers. B) Sellers. C) Government. D) None of these. Show Answer Correct Answer: B) Sellers. 7. True or FalseIn the era of civic infrastructure, franchises did not have a lot of mobility A) False. B) True. Show Answer Correct Answer: A) False. 8. What is the name of the institution which checks the conformity to the Constitution of the Budget or Interim Budget? A) Supreme Audit Office. B) Constitutional Court (Constitutonal Tribunal). C) Regional Chamber of Auditors. D) None of above. Show Answer Correct Answer: B) Constitutional Court (Constitutonal Tribunal). 9. International monetary policy involves which of the following? A) Balance of payments. B) Government revenue. C) Loan. D) Public expenditure. Show Answer Correct Answer: A) Balance of payments. 10. "True or False" Government budgeting is the critical exercise of allocating revenues and borrowed funds to attain the economic and social goals of the country. A) False. B) True. Show Answer Correct Answer: B) True. 11. OPIF stands for? A) Organizational Performance Indicator Framework. B) Office pre-employment interview form. C) Office Performance index framework. D) Organizational Performance index form. Show Answer Correct Answer: A) Organizational Performance Indicator Framework. 12. What will happen if the General Appropriations Act is not enacted before the start of the new fiscal year? A) The release of the budget will be delayed. B) The previous year's GAA is automatically reenacted. C) The president will solely decide for the allocation of the budget. D) It will be approved in parts and not as a whole. Show Answer Correct Answer: B) The previous year's GAA is automatically reenacted. 13. Time utility is made possible through A) Transportation. B) Processing. C) Storage. D) None of the above. Show Answer Correct Answer: C) Storage. 14. Income distribution A) To distribute income to the majority of people thoroughly and fairly. B) It is the use of tax measures as an important tool. C) Take the income of those with high incomes to help those with low incomes. D) All correct. Show Answer Correct Answer: A) To distribute income to the majority of people thoroughly and fairly. 15. It is the legislative authorization that contains the new appropriations in terms of specific amounts for salaries, wages and other personnel benefits; maintenance and other operating expenses; and capital outlays authorized to be spent for the implementation of various programs/projects and activities of all departments, bureaus and offices of the government for a given year. A) General Appropriations Act. B) General Appropriations Report. C) General Appropriations Reform. D) General Appropriations Summary. Show Answer Correct Answer: A) General Appropriations Act. 16. To argue with sb in order to reach an agreement, especially about the price of sth. A) Refund. B) Haggle. C) Mortgage. D) Receipt. Show Answer Correct Answer: B) Haggle. 17. Which statement most accurately describes weather forecasting as a product? A) Products and services from the state. B) Private goods. C) Public goods. D) Products that are used together. Show Answer Correct Answer: C) Public goods. 18. Which school begins to see that market mechanisms are important but imperfect? A) Marxist office. B) Classical school. C) Keynesian school. D) Neoclassical school. Show Answer Correct Answer: D) Neoclassical school. 19. The three prominent themes of the Union Budget 2020-21 are given below EXCEPT: A) Economic Development for all. B) Aspirational India. C) Caring Society. D) Incredible India. Show Answer Correct Answer: D) Incredible India. 20. Refers to fund obtained from repayable sources, such as loans secured by the government from financial institutions and other sources. A) Government expenditures. B) Public borrowing. C) Private Expenditure. D) Private borrowings. Show Answer Correct Answer: B) Public borrowing. 21. Reserve Bank of India was nationalised on A) 1st January 1947. B) 1st January 1948. C) 1st January 1960. D) 1st January 1949. Show Answer Correct Answer: D) 1st January 1949. 22. Government expenditure consist of A) Transaction expenditure and precautionary exppenditure. B) Public expenditure and private expenditure. C) Operating expenditure and development expenditure. D) Economic expenditure and non-economic expenditure. Show Answer Correct Answer: C) Operating expenditure and development expenditure. 23. The Chancellor of the Exchequer is ..... A) The governor of the Bank of England. B) The UK's Prime Minister. C) The UK's Minister of Finance. D) The UK's Minister of Justice. Show Answer Correct Answer: C) The UK's Minister of Finance. 24. Which is not the type of economic system that the classical schools proposed? A) Price mechanism economy. B) Mixed economy. C) Market economy. D) Free trade economy. Show Answer Correct Answer: D) Free trade economy. 25. During the Thaksin government Shinawatra has lowered the public debt ceiling by what percentage? A) 45 percent to GDP. B) 50 percent to GDP. C) 60 percent to GDP. D) 55 percent to GDP. Show Answer Correct Answer: B) 50 percent to GDP. 26. The objectives of fiscal policy are A) To achieve economic growth. B) Maintain economic stability. C) Achieve a fair distribution of income. D) All of the above. Show Answer Correct Answer: D) All of the above. 27. Which of the following taxes is levied on the production and sale of certain goods, such as tobacco and alcohol? A) Real property tax. B) Value-added tax. C) Income tax. D) Excise tax. Show Answer Correct Answer: D) Excise tax. 28. In India the petiod of financial year is A) 1st April-31st March of subsequent year. B) June 1St-December 31st. C) 1st January-31st December of subsequent year. D) 1st March-31st April of subsequent year. Show Answer Correct Answer: A) 1st April-31st March of subsequent year. 29. It refers to discovery and exploration of a business opportunity with the purpose of converting it into a going concern. A) Business Promotion. B) Business Study. Show Answer Correct Answer: A) Business Promotion. 30. The correct group of direct tax is A) Personal income tax, corporate tax, wealth tax and stamp duty. B) Corporate tax, wealth tax, personal income tax and export import tax. C) Export import tax, GST, corporate tax and VAT. D) Corporate tax, export-import tax, GST and wealth Tax. Show Answer Correct Answer: A) Personal income tax, corporate tax, wealth tax and stamp duty. ← PreviousNext →Related QuizzesFinance QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 3Public Finance Quiz 4Public Finance Quiz 5Public Finance Quiz 6Public Finance Quiz 7Public Finance Quiz 8Public Finance Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books