This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 15 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How does public finance relate to sustainability and the environment? A) It has no impact on sustainability or the environment. B) It encourages sustainable development through tax incentives. C) It discourages sustainable development through tax penalties. D) It has a neutral effect on sustainability and the environment. Show Answer Correct Answer: B) It encourages sustainable development through tax incentives. 2. Regressive tax rate A) Whoever works no matter how much Must pay taxes equally. B) Who can work for little money? Have to pay a lot of taxes. C) Who can make a lot of money? Have to pay a lot of taxes. D) Who can't work as expected? No tax required. Show Answer Correct Answer: B) Who can work for little money? Have to pay a lot of taxes. 3. In the case of direct tax, impact and incidence are on: A) Different person. B) Same person. C) Sellers. D) None of these. Show Answer Correct Answer: B) Same person. 4. Capital expenditure is the expenditure on A) Research and development. B) Machinery. C) Equipment. D) All of the above. Show Answer Correct Answer: D) All of the above. 5. Utility is measured in A) Liters. B) Kilograms. C) Utils. D) Grams. Show Answer Correct Answer: C) Utils. 6. Which of the following is an example of a non-excludable public good? A) Public park. B) Private club. C) Private beach. D) Private university. Show Answer Correct Answer: A) Public park. 7. Preparation, Passing and implementation of government budget are covered by: A) Monetary Policy tools. B) Financial administration. C) Judicial Administration. D) Piscal policy tool. Show Answer Correct Answer: B) Financial administration. 8. The fee for borrowing and using someone else's money. A) Interest rate. B) Expense. C) Income. D) Interest. Show Answer Correct Answer: D) Interest. 9. Before his wedding Tom ..... a lot of money from his current account. A) Withdrew. B) Sold. C) Lent. D) Borrowed. Show Answer Correct Answer: A) Withdrew. 10. When government transfers payments, they are said to be ..... A) Nonexhaustive. B) Exhaustive. C) Both are correct. D) Neither is correct. Show Answer Correct Answer: A) Nonexhaustive. 11. The qualitative aspects that are evaluated have to do with A) External debt management, debt growth expectations. B) Management of finances, tax evasion and direction of pension funds. C) Domestic debt, tax expectations and pension fund management. D) Pension funds, external debt management and expectations of tax reforms. Show Answer Correct Answer: B) Management of finances, tax evasion and direction of pension funds. 12. ..... is a compulsory contribution from the person to the government without reference to special benefits conferred." A) Tax. B) GST. C) Custom Duty. D) None of above. Show Answer Correct Answer: A) Tax. 13. The total utility per quantity consumed is known as ..... utility A) Constant. B) Total. C) Marginal. D) Average. Show Answer Correct Answer: D) Average. 14. Economic stability allows the government to ..... A) Provide economic decline. B) Maintain stable prices. C) Have more unemployment. D) None of above. Show Answer Correct Answer: B) Maintain stable prices. 15. Which is not an operating budget regarding state enterprise finances? A) Salary, wages. B) Budget for investment. C) Material costs and expenses. D) Compensation. Show Answer Correct Answer: B) Budget for investment. 16. This government agency has the power, authority and duty to examine, audit and settle all acoounts and expenditures of the funds and properties of the Philippine government. A) NAMFREL. B) COA. C) CSC. D) SANDIGAN BAYAN. Show Answer Correct Answer: B) COA. 17. Which of the following expressions of fiscal deficit is correct? A) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Debt creating Capital Receipts). B) Net fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). C) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). D) None of above. Show Answer Correct Answer: C) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). 18. To put money or something valuable in a bank where it will be safe A) To deposit. B) To draw. C) To put aside. D) To withdraw. Show Answer Correct Answer: A) To deposit. 19. Which of the following statements is consistent with this? "It is a compulsory government levy that does not create an obligation to repay." A) Characteristics of tax income. B) License characteristics. C) Characteristics of budget expenditures. D) Characteristics of import duties. Show Answer Correct Answer: A) Characteristics of tax income. 20. An expenditure the benefit of which is enjoyed for more than one financial year is known as: A) Revenue expenditure. B) Long term expenditure. C) Extra ordinary expenditure. D) Capital expenditure. Show Answer Correct Answer: D) Capital expenditure. 21. The government prepares their own budget A) State government. B) Central government. C) Both a) and b). D) None of these. Show Answer Correct Answer: C) Both a) and b). 22. Progressive taxation of government doesn't include A) Higher rate of tax on high-income group. B) The poor are exempted from income tax. C) Higher rate of tax on luxury goods. D) Equal rate of tax on both rich and poor. Show Answer Correct Answer: D) Equal rate of tax on both rich and poor. 23. According to Article ..... of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. A) 170. B) 112. C) 115. D) 270. Show Answer Correct Answer: B) 112. 24. Budget constraint is a mathematical representation of all the combinations of ..... an individual can afford to buy if she spends her ..... income A) Goods part of her. B) Goods entire. Show Answer Correct Answer: B) Goods entire. 25. Benefits-received principle ..... A) The principle that those who benefit most from government-supplied goods and services should pay the TAXES that finance them. B) The problem in quantifying the benefits received by individuals, particularly as regards the provision of items such as national defence, fire service, etc., is that it cannot be reconciled with the wider responsibilities accepted by government in providing social . C) Both are correct. D) Neither are correct. Show Answer Correct Answer: D) Neither are correct. 26. Full employment means ..... A) Everyone must work for benefits. B) No days off. C) Everyone has employment opportunities. D) None of above. Show Answer Correct Answer: C) Everyone has employment opportunities. 27. The functions of Public Finance is called the function of ..... A) Federal. B) Fiscal. C) Monetary. D) Finance. Show Answer Correct Answer: B) Fiscal. 28. Community development expenses:Capital budget:: ..... :Revenue budget. A) Loan given to the government companies. B) Subsidies and grants. C) Defence expenditure. D) None of above. Show Answer Correct Answer: B) Subsidies and grants. 29. A person, group, or organization that owes money A) A bookkeeper. B) A creditor. C) A debtor. D) An accountant. Show Answer Correct Answer: C) A debtor. 30. Which taxation method favors the rich against the poor? A) Proportional. B) Regressive. C) Progressive. D) None of the above. Show Answer Correct Answer: B) Regressive. ← 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