This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 23 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Identify an objective interdisciplinary team to evaluate budget requests and proposals and make recommendations based on the current fiscal year overview. A) False. B) True. Show Answer Correct Answer: B) True. 2. ..... are the people to whom the government delivers/serves with public goods and services A) Government Employee. B) Private Individual. C) Public Officials. D) Public. Show Answer Correct Answer: D) Public. 3. Which of the following is a local tax in the Philippines? A) Income tax. B) Real property tax. C) Excise tax. D) Value-added tax. Show Answer Correct Answer: B) Real property tax. 4. States must ensure that a social security system, however, composed, is available to provide benefits to address relevant impacts on livelihood. Such system must be administered or regulated by the State, and should be sustainable to provide continuity over generations. A) Availability. B) Social risks and contingencies. C) Adequacy. D) Accessibility. Show Answer Correct Answer: A) Availability. 5. What is the name of institution which is responsible for the control of the budget implementation and execution central level? A) Supreme Audit Office. B) Superior Audit Office. C) The Council of Ministers. D) None of above. Show Answer Correct Answer: A) Supreme Audit Office. 6. Businesses pay taxes on their ..... A) Net gains. B) Profits. C) Overall sales. D) None of above. Show Answer Correct Answer: B) Profits. 7. Which of the following is an example of discretionary spending? A) Social security benefits. B) Debt servicing. C) Interest payments on public debt. D) Public safety spending. Show Answer Correct Answer: D) Public safety spending. 8. If you have paid too much tax, you should get a rebate A) Rebate. B) Debate. C) Diabetes. D) Purchase. Show Answer Correct Answer: A) Rebate. 9. Choose the correct answer:What is BOT? A) A BOT project is a contract signed between a competent state agency and an investor to build infrastructure works. B) BOT is a project with 100% state capital. C) BOT is an economic construction and business transfer project contract. D) Both A and C are correct. Show Answer Correct Answer: D) Both A and C are correct. 10. Who has the right to introduce legislation concerning a Budget, an Intermin Budget and amendments to the Budget? A) The Parliament. B) The Council of Ministers. C) The Prime Minister. D) The President. Show Answer Correct Answer: B) The Council of Ministers. 11. Refers to not a group of people but to the complex pattern of the norms of interaction that arise among them. A) Socialization. B) Society. C) Individual. D) Community. Show Answer Correct Answer: B) Society. 12. An automatic stabilization mechanism appears in each of the following cases, but which one is not? A) Inflation case. B) In the case of inequality. C) In the case of payment deficit. D) Unemployment case. Show Answer Correct Answer: B) In the case of inequality. 13. Which of the following is not a component of Public finance A) Public Revenue. B) Public Debt. C) Public Finance. D) Public Expenditure. Show Answer Correct Answer: C) Public Finance. 14. A ..... is an economic term for the division of a tax burden between buyers and sellers A) Tax incidence. B) Value-added taxes. C) Sales taxes. D) Excises taxes. Show Answer Correct Answer: A) Tax incidence. 15. The ability-to-pay principle supports ..... A) Making taxes affordable. B) Everyone paying the same taxes. C) Making taxes low. D) None of above. Show Answer Correct Answer: A) Making taxes affordable. 16. If the economic situation is sluggish, what type of budget should be created? A) Budget relaxation. B) Balanced budget. C) Budget deficit. D) Budget surplus. Show Answer Correct Answer: C) Budget deficit. 17. Revenue from toddy shops is a revenue of A) Federal Territories. B) Federal Government. C) State Government. D) Local Government. Show Answer Correct Answer: C) State Government. 18. Work process that contributes to the implementation of a program or sub-program or project? A) Activity. B) Program. C) Outcome. D) Output. Show Answer Correct Answer: A) Activity. 19. Which of the following definitions corresponds to this? "Foreign assets held by the Bank of Thailand include gold, special drawing rights. Assets contributed to the International Monetary Fund Foreign assets held in the form of foreign deposits and securities maintained by the central bank." A) Treasury. B) Current account money. C) International reserves. D) International balance of payments. Show Answer Correct Answer: C) International reserves. 20. Usually what is used is the tax base. It is often used as a measure of an individual's ability to pay taxes. Which of the following is not a type of tax base? A) Tax base on income. B) Tax base on spending. C) Wealth tax base. D) Consumption tax base. Show Answer Correct Answer: B) Tax base on spending. 21. It presents goodwill, patents, copyright which are attributed to the firm. A) Intangible Assets. B) Tangible Assets. Show Answer Correct Answer: A) Intangible Assets. 22. Which of the following is not an example of the direct tax? A) Property tax. B) Corporate tax. C) Excise duties. D) Income tax. Show Answer Correct Answer: C) Excise duties. 23. The following are the economic functions of government. But which one is not? A) Building stability. B) Creating growth. C) Income distribution. D) Resource allocation. Show Answer Correct Answer: A) Building stability. 24. During the government of General Prayut Chan-ocha has the public debt ceiling been adjusted from 60 percent of GDP to what percentage in order to increase fiscal space? A) 70 percent to GDP. B) 80 percent to GDP. C) 65 percent to GDP. D) 75 percent to GDP. Show Answer Correct Answer: A) 70 percent to GDP. 25. " Public finance is concerned with the income and expenditure of public authorities with the adjestment of one to another" . was said by A) Dalton. B) Collin Clark. C) Amarthyasen. D) Maier and Baldwin. Show Answer Correct Answer: A) Dalton. 26. ..... taxes are generally paid in lump sum for the whole year. A) Indirect tax. B) Direct tax. Show Answer Correct Answer: B) Direct tax. 27. Which of the following is an example of an entitlement program? A) Infrastructure spending. B) Debt servicing. C) Military spending. D) Social security. Show Answer Correct Answer: D) Social security. 28. This phase starts with a budget call and ends with president's submission of the proposed budget to Congress. A) Budget Execution and Control. B) Accountability. C) Budget Preparation. D) Budget Authoriation or Legislation. Show Answer Correct Answer: C) Budget Preparation. 29. Which is not a duty of the Central Bank/Bank of Thailand? A) Become a government banker. B) Is the issuer of cash bills payable to the government. C) It is the lender of last resort to commercial banks. D) It controls the money supply. Show Answer Correct Answer: B) Is the issuer of cash bills payable to the government. 30. Charged Expenditure is an expenditure that requires approval by the Parliament A) Yes. B) No. Show Answer Correct Answer: B) No. ← 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