This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 16 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 16 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. From studying financial management Which school of thought do students think has the basic belief that The relationship between investment and savings is such that investment is the cause. It is different from other schools that believe that savings is a necessary condition of investment. A) Keynesian school. B) Neoclassical school. C) Classical school. D) Marxist office. Show Answer Correct Answer: A) Keynesian school. 2. Petroleum income tax is collected by which agency? A) Excise Department. B) Comptroller General's Department. C) Customs Department. D) Revenue Department. Show Answer Correct Answer: D) Revenue Department. 3. Give an example of a Direct tax A) Income tax. B) Excise duties. C) Customs duty. D) GST. Show Answer Correct Answer: A) Income tax. 4. When the prices rise the value of money rises A) True. B) False. Show Answer Correct Answer: B) False. 5. If the tax is paid by an individual on whom is levied, it is called A) Tax revenue. B) Non-tax revenue. C) Indirect tax. D) Direct tax. Show Answer Correct Answer: D) Direct tax. 6. There are many benefits of the competition mechanism, which one is not? A) Allocation of goods and services. B) Promote efficiency in production. C) Makes the most efficient use of resources. D) Create economic equality. Show Answer Correct Answer: D) Create economic equality. 7. COMMITMENT FROM ..... IS ONE OF THE CHALLENGES IN OUTCOME BASE BUDGETING SYSTEM A) TOP MANAGEMENT. B) ACCOUNTANT. C) HEAD OF DEPARTMENT. D) EMPLOYEES. Show Answer Correct Answer: A) TOP MANAGEMENT. 8. What is the primary goal of public sector entities in the Philippines? A) Profit Maximization. B) Providing Social Services. C) Promoting Economic Growth. D) Exporting goods and services. Show Answer Correct Answer: B) Providing Social Services. 9. How much did the Federal government collect in tax revenues in fiscal year 2014? A) $ 3 trillion. B) $ 4 trillion. C) $ 2 trillion. D) $ 5 trillion. Show Answer Correct Answer: A) $ 3 trillion. 10. Which statement is incorrect in solving the cycle of poverty? A) Controlling the direction of lending by financial institutions. B) Promotion of foreign investment. C) The government invests itself in key industries. D) The government should encourage people to spend and consume more. Show Answer Correct Answer: D) The government should encourage people to spend and consume more. 11. What is the only objective of private finance? A) To do public welfare. B) To get profit. C) To cause harm. D) All of the options. Show Answer Correct Answer: B) To get profit. 12. Tax income of the government refers to: A) A-Interest income from lending money to other countries. B) Rent of government properties. C) Money paid by people of the country. D) All of the above. Show Answer Correct Answer: C) Money paid by people of the country. 13. 6-mostly independent from the political process ..... A) Fiscal policy. B) Public economics. C) Monetary policy. D) Public finance. Show Answer Correct Answer: C) Monetary policy. 14. Which government agency is responsible for regulating public utilities in the Philippines? A) Department of Energy. B) Energy Regulatory Commission. C) Philippine National Police. D) Department of Transportation. Show Answer Correct Answer: B) Energy Regulatory Commission. 15. These are composed of cash, bank deposits, and other items readily convertible into cash like accounts receivable, stocks and work-in-process, and marketable securities A) CURRENT ASSETS. B) FIXED ASSETS. Show Answer Correct Answer: A) CURRENT ASSETS. 16. The best goods usually ..... most. A) Pay. B) Cost. Show Answer Correct Answer: B) Cost. 17. Which of the following definitions corresponds to "accumulated surplus revenue of the government at any given time, covering both budget and extra-budget revenue" ? A) Treasury. B) Loan. C) Government money. D) Medium budget. Show Answer Correct Answer: A) Treasury. 18. Trust funds consist of: A) Corporate taxes. B) Individual income taxes. C) Excise taxes. D) Payroll taxes. Show Answer Correct Answer: D) Payroll taxes. 19. We have ..... types of taxes A) 3. B) 5. C) 4. D) 2. Show Answer Correct Answer: D) 2. 20. The borrowings lead to an increase in the liability for the government is the example fora) Revenue receiptsb) Capital receiptsc) Public debitd) Public revenueAnswer:b) Capital receipts A) Public debit. B) Capital receipts. C) Public revenue. D) Revenue receipts. Show Answer Correct Answer: B) Capital receipts. 21. Which of the following is a reason why taxation is important in public finance? A) To reduce government debt. B) To finance public goods and services. C) To increase government corruption. D) To decrease economic growth. Show Answer Correct Answer: B) To finance public goods and services. 22. Price stability allows for prices to ..... A) Stay around the same. B) Rise frequently. C) Drop drastically. D) None of above. Show Answer Correct Answer: A) Stay around the same. 23. In which type of Budget expenditure is more than income. A) Deficit. B) Imbalnced. C) Surplus. D) Balanced. Show Answer Correct Answer: A) Deficit. 24. The government provides a large budget for salary subsidies A) 3.7 trillion rupiah. B) 30.7 trillion rupiah. C) 7.7 trillion rupiah. D) 37.7 trillion rupiah. Show Answer Correct Answer: D) 37.7 trillion rupiah. 25. Which of the following is an example of a Capital expenditure? A) Supply of medicine. B) Construction of MPH. C) Repairing of classrooms. D) Payment made to the labourers. Show Answer Correct Answer: B) Construction of MPH. 26. Choose the correct statement regarding Internal Debt! A) They are the loans availed by thegovernment from individuals and institutionswithin the country. B) They are the loans availed fromforeign governments and internationalinstitutions. Show Answer Correct Answer: A) They are the loans availed by thegovernment from individuals and institutionswithin the country. 27. ..... is a type of money that a country uses. A) Currency. B) Value. C) Banknotes. D) Coins. Show Answer Correct Answer: A) Currency. 28. Which government agency is responsible for collecting taxes in the Philippines? A) Department of Finance. B) Bureau of Internal Revenue. C) Bureau of Customs. D) Department of Budget and Management. Show Answer Correct Answer: B) Bureau of Internal Revenue. 29. The following symbols Which symbols are always opposite and different from other symbols? A) Investment (I). B) Employment (E). C) Money supply (M). D) Interest rate (R). Show Answer Correct Answer: D) Interest rate (R). 30. Which of the following is a national tax in the Philippines? A) Community tax. B) Real property tax. C) Professional tax. D) Value-added tax. Show Answer Correct Answer: D) Value-added tax. ← 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