This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 31 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 31 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. To decrease the inequalities between people in the same society, the government implement some policies, Such as: A) Collection of taxes. B) Prevent the selling of luxury goods. C) Using progressive taxes. D) Force price decrease. Show Answer Correct Answer: C) Using progressive taxes. 2. Refers to the income and outgo of the government in the pursuit of national objectives. A) Private Finance. B) Public Finance. C) Revenues. D) Taxes. Show Answer Correct Answer: B) Public Finance. 3. Which of the following local government organizations is empowered by law to borrow from abroad? A) Pattaya City. B) Subdistrict Administrative Organization. C) Municipality. D) Provincial Administrative Organization. Show Answer Correct Answer: A) Pattaya City. 4. If it's no good, take it back to the shop, show your ..... and ask for a ..... A) Receipt, refund. B) Recipe, refund. C) Check, change. D) Check, refund. Show Answer Correct Answer: A) Receipt, refund. 5. Which step of the budget process follows budget approval? A) Budget preparation. B) Budget management. C) Budget planning. D) Budget monitoring and evaluation. Show Answer Correct Answer: B) Budget management. 6. The following statements correspond to which type of tax rate? "A tax that has a constant rate regardless of whether the tax base increases or decreases." A) Progressive tax rate. B) Equal tax rate. C) Proportional tax rate. D) Regressive tax rates. Show Answer Correct Answer: C) Proportional tax rate. 7. It refers to the difference between revenues less period expenses and product costs. A) Net Profit or Net Loss. B) Income Statement. Show Answer Correct Answer: A) Net Profit or Net Loss. 8. Which of these is not an example of direct tax? A) Personal income tax. B) Company tax. C) Import duties. D) Property tax. Show Answer Correct Answer: C) Import duties. 9. When the financial year does starts in India? A) Starts from April 1 and ends on 31st March. B) Starts from January 1 and ends on 31st of December. C) Starts from March 1 and ends on 31st of April. D) Starts from March 31st and ends on March 31st. Show Answer Correct Answer: A) Starts from April 1 and ends on 31st March. 10. Who has power to sign One rupees paper note in India? A) Governer of RBI. B) President. C) Finance Secretary. D) Finance Minister. Show Answer Correct Answer: C) Finance Secretary. 11. What was the main problem of international lending in the Middle Ages? A) It was nonexistent. B) Nobody wanted to borrow. C) If a king died, default was highly possible. D) There was not enough coin to do it. Show Answer Correct Answer: C) If a king died, default was highly possible. 12. Fiscal deficit is calculated by A) Revenue receipt + Non-debt Capital receipts + Total Expenditure. B) (Revenue receipts + Non-debt Capital Receipts)-Total Expenditure. C) (Revenue receipts + Non-debt Capital Receipts) Total Expenditure. D) (Revenue receipts + Non-debt Capital Receipts) %Total Expenditure. Show Answer Correct Answer: B) (Revenue receipts + Non-debt Capital Receipts)-Total Expenditure. 13. Irredeemable debt is also called as ..... A) Compulsory debt. B) Perpectual debt. C) Unfunded debt. D) Voluntary debt. Show Answer Correct Answer: B) Perpectual debt. 14. Which school of economics holds that interest rates have an inverse relationship to the money supply? A) Keynesian School. B) Classical school. C) Neoclassical school. D) Marxist office. Show Answer Correct Answer: A) Keynesian School. 15. "Definition-Public finance is one of those subjects which are on the borderline between economics and politics." is given by A) Adam Smith. B) Alfred Marshall. C) Prof. Hugh Dalton. D) Prof. Findlay Shirras. Show Answer Correct Answer: C) Prof. Hugh Dalton. 16. Which of the following is a component of public goods? A) Excludability. B) Rivalry. C) Non-excludability. D) Non-rivalry. Show Answer Correct Answer: A) Excludability. 17. Financial year in India is from A) 1st jan to 31st dec. B) 1st april to 31st march. C) 1st july to 30th june. D) None of above. Show Answer Correct Answer: B) 1st april to 31st march. 18. ..... are those that present financial information to various interested parties. A) FINANCIAL STATEMENTS. B) FINANCIAL REPORTS. Show Answer Correct Answer: A) FINANCIAL STATEMENTS. 19. For how long is the issuance of a promissory note used for incurring debt? A) Used for short-term loans of no more than 1 year. B) Used for medium-term debt creation not exceeding 10 years. C) Used for long-term debt creation. D) Used for incurring debts with foreign governments. Show Answer Correct Answer: B) Used for medium-term debt creation not exceeding 10 years. 20. Which is not included in the Keynesian aggregate demand equation? A) K. B) C. C) I. D) G. Show Answer Correct Answer: A) K. ← 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