This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 23 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The total utility per quantity consumed is known as ..... utility A) Marginal. B) Constant. C) Average. D) Total. Show Answer Correct Answer: C) Average. 2. Economic stability allows the government to ..... A) Provide economic decline. B) Maintain stable prices. C) Have more unemployment. D) None of above. Show Answer Correct Answer: B) Maintain stable prices. 3. Which is not an operating budget regarding state enterprise finances? A) Salary, wages. B) Budget for investment. C) Material costs and expenses. D) Compensation. Show Answer Correct Answer: B) Budget for investment. 4. This government agency has the power, authority and duty to examine, audit and settle all acoounts and expenditures of the funds and properties of the Philippine government. A) NAMFREL. B) COA. C) CSC. D) SANDIGAN BAYAN. Show Answer Correct Answer: B) COA. 5. Which of the following expressions of fiscal deficit is correct? A) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Debt creating Capital Receipts). B) Net fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). C) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). D) None of above. Show Answer Correct Answer: C) Gross fiscal deficit = Total expenditure-(Revenue Receipts + Non debt creating Capital Receipts). 6. To put money or something valuable in a bank where it will be safe A) To withdraw. B) To deposit. C) To put aside. D) To draw. Show Answer Correct Answer: B) To deposit. 7. Which of the following statements is consistent with this? "It is a compulsory government levy that does not create an obligation to repay." A) Characteristics of tax income. B) Characteristics of budget expenditures. C) Characteristics of import duties. D) License characteristics. Show Answer Correct Answer: A) Characteristics of tax income. 8. An expenditure the benefit of which is enjoyed for more than one financial year is known as: A) Revenue expenditure. B) Long term expenditure. C) Extra ordinary expenditure. D) Capital expenditure. Show Answer Correct Answer: D) Capital expenditure. 9. The government prepares their own budget A) State government. B) Central government. C) Both a) and b). D) None of these. Show Answer Correct Answer: C) Both a) and b). 10. Progressive taxation of government doesn't include A) Higher rate of tax on high-income group. B) The poor are exempted from income tax. C) Higher rate of tax on luxury goods. D) Equal rate of tax on both rich and poor. Show Answer Correct Answer: D) Equal rate of tax on both rich and poor. 11. According to Article ..... of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. A) 115. B) 170. C) 112. D) 270. Show Answer Correct Answer: C) 112. 12. Budget constraint is a mathematical representation of all the combinations of ..... an individual can afford to buy if she spends her ..... income A) Goods entire. B) Goods part of her. Show Answer Correct Answer: A) Goods entire. 13. Benefits-received principle ..... A) The principle that those who benefit most from government-supplied goods and services should pay the TAXES that finance them. B) The problem in quantifying the benefits received by individuals, particularly as regards the provision of items such as national defence, fire service, etc., is that it cannot be reconciled with the wider responsibilities accepted by government in providing social . C) Both are correct. D) Neither are correct. Show Answer Correct Answer: D) Neither are correct. 14. Full employment means ..... A) Everyone must work for benefits. B) No days off. C) Everyone has employment opportunities. D) None of above. Show Answer Correct Answer: C) Everyone has employment opportunities. 15. The functions of Public Finance is called the function of ..... A) Federal. B) Fiscal. C) Monetary. D) Finance. Show Answer Correct Answer: B) Fiscal. 16. Community development expenses:Capital budget:: ..... :Revenue budget. A) Loan given to the government companies. B) Subsidies and grants. C) Defence expenditure. D) None of above. Show Answer Correct Answer: B) Subsidies and grants. 17. A person, group, or organization that owes money A) A bookkeeper. B) A creditor. C) An accountant. D) A debtor. Show Answer Correct Answer: D) A debtor. 18. Which taxation method favors the rich against the poor? A) Proportional. B) Regressive. C) Progressive. D) None of the above. Show Answer Correct Answer: B) Regressive. 19. 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) Classical school. B) Neoclassical school. C) Keynesian school. D) Marxist office. Show Answer Correct Answer: C) Keynesian school. 20. Petroleum income tax is collected by which agency? A) Excise Department. B) Customs Department. C) Comptroller General's Department. D) Revenue Department. Show Answer Correct Answer: D) Revenue Department. ← PreviousNext →Related 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 9Public Finance Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books