This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 30 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A government budget is said to be a balanced budget if the estimated government expenditure is equal to expected government receipts in a particular financial year. A) Balanced Budget. B) Surplus Budget. C) Deficit Budget. D) Imbalanced Budget. Show Answer Correct Answer: A) Balanced Budget. 2. Which of the following is a source of government revenue? A) Wages and salaries. B) Sales taxes. C) Capital gains. D) All of the above. Show Answer Correct Answer: B) Sales taxes. 3. The full form of FRBM Bill is ..... A) Fiscal Responsibility and Bank Management Bill. B) Financial Revenue and Budget Management Bill. C) Fiscal Responsibility and Budget Management Bill. D) Financial Responsibility and Budget Management Bill. Show Answer Correct Answer: C) Fiscal Responsibility and Budget Management Bill. 4. 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%. 5. The Constitution of the Kingdom of Thailand 2017 states in which section that the national budget must be made into an Act? A) Section 139. B) Section 140. C) Section 141. D) Section 142. Show Answer Correct Answer: C) Section 141. 6. 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. 7. It is the allocation of funds based on programmatic results that contribute to organizational goals A) Capital Budgeting. B) Performance-based budgeting. Show Answer Correct Answer: B) Performance-based budgeting. 8. The following three (3) functions of the government, except A) Allocation. B) Distribution. C) Amortization. D) Stabilization. Show Answer Correct Answer: C) Amortization. 9. Which statement is correct regarding the cyclical model of poverty? A) Low employment $\rightarrow$ Low savings $\rightarrow$ Low income $\rightarrow$ Low investment $\rightarrow$ Economic downturn. B) Low savings $\rightarrow$ Low investment $\rightarrow$ Economic downturn $\rightarrow$ Low employment $\rightarrow$ Low income. C) Economic downturn $\rightarrow$ low employment $\rightarrow$ low savings $\rightarrow$ low income $\rightarrow$ low savings. D) Economic downturn $\rightarrow$ low savings $\rightarrow$ low investment $\rightarrow$ low income $\rightarrow$ low employment. Show Answer Correct Answer: B) Low savings $\rightarrow$ Low investment $\rightarrow$ Economic downturn $\rightarrow$ Low employment $\rightarrow$ Low income. 10. 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. 11. 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. 12. The issue of unemployment is what problem in the economy? A) Economic growth. B) Economic fairness. C) Economic inequality. D) Economic stability. Show Answer Correct Answer: D) Economic stability. 13. All are factors which increase government expenditure and debt except ..... A) Increasing population. B) The need for industrialization. C) Deflation. D) Inflation. Show Answer Correct Answer: C) Deflation. 14. 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 Climber. C) Social Assistance. D) Social Security. Show Answer Correct Answer: C) Social Assistance. 15. A taxation system where higher income earners pay low tax rates is called ..... taxation A) Inverse taxes. B) Proportional. C) Regressive. D) Progressive. Show Answer Correct Answer: C) Regressive. 16. 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. 17. Which of the following is a challenge facing the public sector in the Philippines? A) Excessive regulation. B) Lack of government funding. C) Inefficient bureaucracy. D) Lack of competition. Show Answer Correct Answer: C) Inefficient bureaucracy. 18. 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,. 19. Private employees receive salary subsidy assistance from the government A) Of. B) No. Show Answer Correct Answer: A) Of. 20. The debt held by the Federal Reserve is counted as debt held by the public A) True. B) False. Show Answer Correct Answer: A) True. ← 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