This quiz works best with JavaScript enabled. Home > Finance > Public Finance > Public Finance – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 5 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Taxes that are imposed directly on the taxpayer A) Direct Taxes. B) Indirect Taxes. Show Answer Correct Answer: A) Direct Taxes. 2. An Act provides access to the full spectrum of healthcare by enrolling citizens in the National Insurance Program and granting health coverage to all. A) Republic Act No. 11224. B) Republic Act No. 11223. C) Republic Act No. 11222. D) Republic Act No. 11221. Show Answer Correct Answer: B) Republic Act No. 11223. 3. Which of the following is a positive consequence of effective taxation? A) Increased government corruption. B) Decreased public debt. C) Increased economic inequality. D) Improved public goods and services. Show Answer Correct Answer: D) Improved public goods and services. 4. Social assistance is purely a government affair while social insurance is partly financed by the State. A) False. B) True. C) Maybe. D) Sometimes. Show Answer Correct Answer: B) True. 5. What is the meaning of the Thai fiscal year? A) Starting on October 1 of a calendar year. and ends on September 30 of the next calendar year. B) Starting on January 1 of a calendar year. and ends on December 31 of that calendar year. C) Starting on 1 May of a calendar year. and ends on April 30 of the next calendar year. D) Starting on the date of the Cabinet resolution. and ended in 12 months. Show Answer Correct Answer: A) Starting on October 1 of a calendar year. and ends on September 30 of the next calendar year. 6. What does VAT or Value Added Tax stand for? A) View Arm Tax. B) Value Added Tax. C) Vow Add Tax. D) Velocity Aim Tax. Show Answer Correct Answer: B) Value Added Tax. 7. Which of the following is not a type of direct tax A) Sales and Service Tax. B) Income Tax. C) Petroleum taxes. D) Corporate Taxes. Show Answer Correct Answer: A) Sales and Service Tax. 8. People who get unemployment benefits are ..... the dole. A) On. B) With. C) By. D) At. Show Answer Correct Answer: A) On. 9. It is one of the section of the balance sheet shows the interest of the owner or owners in the company. A) LIABILITIES. B) NET WORTH. Show Answer Correct Answer: B) NET WORTH. 10. Q2) The increase in the activities of the government cause: A) A-Increase in the expenditures and decrease in revenues. B) Increase in the expenditures and revenues. C) Not effect to both expenditures and revenues. D) Both expenditures and revenues decrease. Show Answer Correct Answer: B) Increase in the expenditures and revenues. 11. Fiscal policy corresponds to which English word? A) Fiscal Policy. B) Monetary Policy. C) Tax Policy. D) Economic Policy. Show Answer Correct Answer: A) Fiscal Policy. 12. A budget surplus can be achieved by ..... A) Open market operation. B) Increasing government expenditure and decrease tasationby the same amount. C) Increasing income taxes. D) Increasing government development expenditures. Show Answer Correct Answer: C) Increasing income taxes. 13. The country's financial deficit can reach 9.34% of GDP A) Of. B) No. Show Answer Correct Answer: B) No. 14. The government imposes higher rate of taxes on A) High income group. B) Low income group. C) Medium income group. D) All of these. Show Answer Correct Answer: A) High income group. 15. When money supply increase price level also increases A) True. B) False. Show Answer Correct Answer: A) True. 16. Which of these is not an item of government revenue? A) Loans. B) Grants. C) Salaries. D) Tolls. Show Answer Correct Answer: C) Salaries. 17. Sth that is not worth what you pay for it A) Fee. B) Fare. C) Bargain. D) Ripp-off. Show Answer Correct Answer: D) Ripp-off. 18. Banks:internal debt:: ..... :external debts. A) Central bank. B) Financial institute within country. C) World bank. D) None of above. Show Answer Correct Answer: C) World bank. 19. A good is ..... if a person can be prevented from using it. A) NATURAL GOODS. B) NON-EXCLUDABLE. C) RIVALRY. D) EXCLUDABLE. Show Answer Correct Answer: D) EXCLUDABLE. 20. Indirect tax consists of A) Central excise duty and value added tax (VAT). B) Import-export taxes and service tax. C) Only a. D) Both a and b. Show Answer Correct Answer: D) Both a and b. 21. A single goods and service tax (GST) has been introduced ina) 1st June 2017b) 1st July 2017c) 1st January 2007d) 1st January 2017Answer:b) 1st July 2017 A) 1st June 2017. B) 1st January 2017. C) 1st July 2017. D) 1st January 2007. Show Answer Correct Answer: C) 1st July 2017. 22. Which of the following type of public expenditure is characterized by quid-pro-quo? A) Interest. B) Grant. C) Purchase Prices. D) Subsidy. Show Answer Correct Answer: C) Purchase Prices. 23. In India, the financial year starts from A) January 1. B) April 31st. C) March 31st. D) April 1. Show Answer Correct Answer: D) April 1. 24. A compulsory payment by citizens to the government without expecting any direct benefit is called A) Indirect Tax. B) Tax Revenue. C) Direct Tax. D) Non Tax Revenue. Show Answer Correct Answer: B) Tax Revenue. 25. What is the main cause of increase mobility of sports franchises. A) Increased market power and popularity of franchises. B) Increased public funding. C) Franchises being seen as centerpieces of urban development. D) None of above. Show Answer Correct Answer: C) Franchises being seen as centerpieces of urban development. 26. If the overall price level decreases we have ..... A) Inflation. B) Stagnation. C) Deflation. D) None of above. Show Answer Correct Answer: C) Deflation. 27. Which of the following is an example of a social expenditure of public finance in the Philippines? A) Provision of healthcare services to the public. B) Payment of salaries to government employees. C) Construction of a new highway. D) Purchase of military equipment. Show Answer Correct Answer: A) Provision of healthcare services to the public. 28. Which of the following is not an assumption of the principle of MSA? A) All taxes result in sacrifice. B) All public expenditures lead to benefit. C) Public revenue consists only of taxes. D) The budget may be in surplus or deficit. Show Answer Correct Answer: D) The budget may be in surplus or deficit. 29. Something that you buy cheaply or less than its usual price A) A bargain. B) Sales. C) A discount. D) Sale. Show Answer Correct Answer: A) A bargain. 30. What are two automatic stabilizers embedded in fiscal policy? A) Taxes and revenues. B) Taxes and savings. C) Taxes and spending. D) None of above. Show Answer Correct Answer: C) Taxes and spending. ← PreviousNext →Related QuizzesFinance QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 3Public Finance Quiz 4Public Finance Quiz 6Public Finance Quiz 7Public Finance Quiz 8Public Finance Quiz 9Public Finance Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books