This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 20 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 20 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Choose the correct GST Slab? A) 5%, 12%, 15% and 18%. B) 5%, 10%, 28% and 38%. C) 5%, 12%, 18% and 38%. D) 5%, 12%, 18% and 28%. Show Answer Correct Answer: D) 5%, 12%, 18% and 28%. 2. The Constitution of the Kingdom of Thailand 2017 states in which section that the national budget must be made into an Act? A) Section 142. B) Section 141. C) Section 139. D) Section 140. Show Answer Correct Answer: B) Section 141. 3. The business promoter may also be induced to consider certain product ideas because of the availability of ideas. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 4. It is the allocation of funds based on programmatic results that contribute to organizational goals A) Performance-based budgeting. B) Capital Budgeting. Show Answer Correct Answer: A) Performance-based budgeting. 5. The following three (3) functions of the government, except A) Allocation. B) Distribution. C) Amortization. D) Stabilization. Show Answer Correct Answer: C) Amortization. 6. Which statement is correct regarding the cyclical model of poverty? A) Economic downturn $\rightarrow$ low employment $\rightarrow$ low savings $\rightarrow$ low income $\rightarrow$ low savings. B) Low employment $\rightarrow$ Low savings $\rightarrow$ Low income $\rightarrow$ Low investment $\rightarrow$ Economic downturn. C) Low savings $\rightarrow$ Low investment $\rightarrow$ Economic downturn $\rightarrow$ Low employment $\rightarrow$ Low income. D) Economic downturn $\rightarrow$ low savings $\rightarrow$ low investment $\rightarrow$ low income $\rightarrow$ low employment. Show Answer Correct Answer: C) Low savings $\rightarrow$ Low investment $\rightarrow$ Economic downturn $\rightarrow$ Low employment $\rightarrow$ Low income. 7. The tax imposed by the central government are A) Direct tax. B) Indirect tax. C) Revenue tax. D) Both a and b. Show Answer Correct Answer: D) Both a and b. 8. The principles listed below are designed to help cities think through key issues as they launch performance-based budgeting initiatives. A) True. B) False. Show Answer Correct Answer: A) True. 9. The issue of unemployment is what problem in the economy? A) Economic growth. B) Economic fairness. C) Economic stability. D) Economic inequality. Show Answer Correct Answer: C) Economic stability. 10. All are factors which increase government expenditure and debt except ..... A) Deflation. B) The need for industrialization. C) Increasing population. D) Inflation. Show Answer Correct Answer: A) Deflation. 11. One of the objectives of 4PS wherein to provide cash assistance to the poor, to alleviate their needs (short term poverty alleviation) A) Social Desirability. B) Social Assistance. C) Social Security. D) Social Climber. Show Answer Correct Answer: B) Social Assistance. 12. A taxation system where higher income earners pay low tax rates is called ..... taxation A) Regressive. B) Progressive. C) Inverse taxes. D) Proportional. Show Answer Correct Answer: A) Regressive. 13. Which item is not included in excise tax? A) Oil. B) Revenue stamp. C) Tobacco. D) Liquor and beer. Show Answer Correct Answer: B) Revenue stamp. 14. Which of the following is a challenge facing the public sector in the Philippines? A) Inefficient bureaucracy. B) Excessive regulation. C) Lack of competition. D) Lack of government funding. Show Answer Correct Answer: A) Inefficient bureaucracy. 15. What is an Interim Budget? A) The revenues and expenditures of the State for a period longer than one year, In exceptional cases. B) The revenues and expenditures of the State for a period shorter than one year, In exceptional cases,. C) The revenues and expenditures of the State for a period of one year. D) None of above. Show Answer Correct Answer: B) The revenues and expenditures of the State for a period shorter than one year, In exceptional cases,. 16. Private employees receive salary subsidy assistance from the government A) No. B) Of. Show Answer Correct Answer: B) Of. 17. The debt held by the Federal Reserve is counted as debt held by the public A) False. B) True. Show Answer Correct Answer: B) True. 18. To decrease the inequalities between people in the same society, the government implement some policies, Such as: A) Collection of taxes. B) Force price decrease. C) Prevent the selling of luxury goods. D) Using progressive taxes. Show Answer Correct Answer: D) Using progressive taxes. 19. Refers to the income and outgo of the government in the pursuit of national objectives. A) Public Finance. B) Revenues. C) Taxes. D) Private Finance. Show Answer Correct Answer: A) Public Finance. 20. Which of the following local government organizations is empowered by law to borrow from abroad? A) Provincial Administrative Organization. B) Pattaya City. C) Municipality. D) Subdistrict Administrative Organization. Show Answer Correct Answer: B) Pattaya City. 21. If it's no good, take it back to the shop, show your ..... and ask for a ..... A) Check, refund. B) Check, change. C) Receipt, refund. D) Recipe, refund. Show Answer Correct Answer: C) Receipt, refund. 22. Which step of the budget process follows budget approval? A) Budget preparation. B) Budget management. C) Budget planning. D) Budget monitoring and evaluation. Show Answer Correct Answer: B) Budget management. 23. The following statements correspond to which type of tax rate? "A tax that has a constant rate regardless of whether the tax base increases or decreases." A) Equal tax rate. B) Proportional tax rate. C) Regressive tax rates. D) Progressive tax rate. Show Answer Correct Answer: B) Proportional tax rate. 24. It refers to the difference between revenues less period expenses and product costs. A) Income Statement. B) Net Profit or Net Loss. Show Answer Correct Answer: B) Net Profit or Net Loss. 25. Which of these is not an example of direct tax? A) Property tax. B) Company tax. C) Import duties. D) Personal income tax. Show Answer Correct Answer: C) Import duties. 26. When the financial year does starts in India? A) Starts from April 1 and ends on 31st March. B) Starts from January 1 and ends on 31st of December. C) Starts from March 1 and ends on 31st of April. D) Starts from March 31st and ends on March 31st. Show Answer Correct Answer: A) Starts from April 1 and ends on 31st March. 27. Who has power to sign One rupees paper note in India? A) Finance Secretary. B) President. C) Governer of RBI. D) Finance Minister. Show Answer Correct Answer: A) Finance Secretary. 28. What was the main problem of international lending in the Middle Ages? A) It was nonexistent. B) Nobody wanted to borrow. C) If a king died, default was highly possible. D) There was not enough coin to do it. Show Answer Correct Answer: C) If a king died, default was highly possible. 29. Fiscal deficit is calculated by A) Revenue receipt + Non-debt Capital receipts + Total Expenditure. B) (Revenue receipts + Non-debt Capital Receipts) Total Expenditure. C) (Revenue receipts + Non-debt Capital Receipts)-Total Expenditure. D) (Revenue receipts + Non-debt Capital Receipts) %Total Expenditure. Show Answer Correct Answer: C) (Revenue receipts + Non-debt Capital Receipts)-Total Expenditure. 30. Irredeemable debt is also called as ..... A) Compulsory debt. B) Unfunded debt. C) Voluntary debt. D) Perpectual debt. Show Answer Correct Answer: D) Perpectual debt. ← 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