This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 26 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Conditions for growth include the following three conditions, which one is not? A) Savings. B) Investment. C) Production productivity. D) Aggregate demand. Show Answer Correct Answer: D) Aggregate demand. 2. I can't believe how cheap these shorts were. They were a real ..... ! A) Offer. B) Sale. C) Discount. D) Bargain. Show Answer Correct Answer: D) Bargain. 3. GDP includes ..... A) Social Security payments. B) Second hand sales. C) Haircuts. D) None of above. Show Answer Correct Answer: C) Haircuts. 4. Which is not considered a component of government revenue? A) Treasury. B) Medium budget. C) Income. D) Loan. Show Answer Correct Answer: B) Medium budget. 5. Which of the following is a direct tax? A) Service tax. B) Customs duty. C) Income tax. D) Excise duty. Show Answer Correct Answer: C) Income tax. 6. Which is not an important component of national finance? A) Public debt. B) Government revenue. C) National budget. D) State enterprise expenses. Show Answer Correct Answer: D) State enterprise expenses. 7. All the following are the examples of direct tax, except A) Company tax. B) Stamp duties. C) Personal income tax. D) Services tax. Show Answer Correct Answer: D) Services tax. 8. The following definition of local government belongs to which academic from what the students have studied? "Local government means governance in which the government gives power or distributes power to local government units. To provide an opportunity for local people to have total governance power. or only part of the local administration according to the principle that if the administrative power comes from the local people Local governments need to have their own organizations. arising from the decentralization of the central government by allowing organizations that are not part of the government Have the power to make decisions and manage work within their jurisdiction." A) John J. Clark. B) Dilys M. Hill. C) Kowit Phuangngam. D) Daniel Wit. Show Answer Correct Answer: D) Daniel Wit. 9. The following are the Phaseson Budgetary Procedures except one. A) Preparation and Presentation. B) Basic Accounting. C) Budget Authorization. D) Budget Accountability. E) Budget Execution and Operation. Show Answer Correct Answer: B) Basic Accounting. 10. ..... is a tax paid on most goods and services. A) Tax rebate. B) VAT. C) VAS. D) Income tax. Show Answer Correct Answer: B) VAT. 11. Q1) Public Finance addresses the process of: A) A-Collection of taxes. B) A-Collection of taxes. C) A-Collection of taxes. D) A-Collection of taxes. Show Answer Correct Answer: A) A-Collection of taxes. 12. Entireness principle A) Parliament's budget work is open and apparent. B) Making only one budget containing all expenditures and revenues, not more documents. C) Trying to balance with budget in that way, that expenditures are equal with revenues. D) Including all expenditures and revenues, not only selected ones. Show Answer Correct Answer: D) Including all expenditures and revenues, not only selected ones. 13. How many Thai state enterprises are there today? A) 52 places. B) 56 locations. C) 59 places. D) 60 locations. Show Answer Correct Answer: B) 56 locations. 14. Which government agency is responsible for regulating the telecommunications industry in the Philippines? A) Department of Information and Communications Technology. B) National Telecommunications Commission. C) Department of Trade and Industry. D) Philippine Competition Commission. Show Answer Correct Answer: A) Department of Information and Communications Technology. 15. Deficit budget refers to that situation in which governments budget expenditure is- A) Less than its budget receipts. B) More than its budget receipts. C) Equal its budget receipts. D) None of these. Show Answer Correct Answer: B) More than its budget receipts. 16. In which budget scenario will a government have the opportunity to save? A) Zero. B) Balanced. C) Deficit. D) Surplus. Show Answer Correct Answer: D) Surplus. 17. Cohesion principle A) Parliament's budget work is open and apparent. B) Making only one budget containing all expenditures and revenues, not more documents. C) Trying to balance with budget in that way, that expenditures are equal with revenues. D) Including all expenditures and revenues, not only selected ones. Show Answer Correct Answer: B) Making only one budget containing all expenditures and revenues, not more documents. 18. One of the objective of 4PS wherein to break the intergenerational cycle of poverty through investments in human capital (nutrition, health and education A) Social Development. B) Social Desirability. C) Social Assistance. D) Social Welfare. Show Answer Correct Answer: A) Social Development. 19. Which of the following is a finance role of public finance? A) Allocation of resources. B) Maximization of profit. C) Creation of market competition. D) All of the above. Show Answer Correct Answer: A) Allocation of resources. 20. The first official government bond issued by a national government was in: A) England. B) The Netherlands. C) Spain. D) France. Show Answer Correct Answer: A) England. 21. Last year I made $ 40, 000 by working ..... home. A) From. B) On. C) At. D) In. Show Answer Correct Answer: A) From. 22. The organization of local government administration in Thailand is consistent with what principles of the exercise of power? A) Principles of authorization. B) Principles of division of power. C) Principles of power allocation. D) Principles of decentralization. Show Answer Correct Answer: D) Principles of decentralization. 23. The state with the highest sales tax is ..... A) California. B) Minnesota. C) Alaska. D) None of above. Show Answer Correct Answer: A) California. 24. What is PNEP stands for? A) Philippine National Expenditure Program. B) Philippine Net Expenditure Program. C) Philippine National Evaluation Policy. D) Philippine National Expenditure Plan. Show Answer Correct Answer: C) Philippine National Evaluation Policy. 25. Wagner's Law is related to: A) Public expenditure. B) Public debt. C) Public revenue. D) Budget. Show Answer Correct Answer: A) Public expenditure. 26. Which is not an important goal in the economy? A) Economic equality. B) Economic stability. C) Economic growth. D) Economic stability. Show Answer Correct Answer: B) Economic stability. 27. Tax paid in lieu of military service in England: A) Tallage. B) Carucage. C) Scutage. D) Socage. Show Answer Correct Answer: C) Scutage. 28. Which statement is incorrect regarding people who benefit from the weak baht? A) Those in debt with foreign countries have an increased burden. Because they use a lot of baht to pay off foreign currency debts. B) Importers reduce the cost of importing products. C) It is becoming more expensive for people to buy goods and services from abroad. D) Investors import more expensive capital goods such as machinery and various equipment. Show Answer Correct Answer: B) Importers reduce the cost of importing products. 29. Which of the following is a form of direct tax in the Philippines? A) Excise tax. B) Estate tax. C) Donor's tax. D) Documentary stamp tax. Show Answer Correct Answer: A) Excise tax. 30. What law did Pres. Duterte in March 2019 approved, which states that the law liberalized rice imports and allowed private parties to ship in the grain in exchange for a 35% tariff for rice originating from other ASEAN countries. A) Rice Grant Law. B) Rice Trafficking Law. C) Rice Subsidy Law. D) Rice Tariffication Law. Show Answer Correct Answer: D) Rice Tariffication Law. ← 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