This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 32 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 32 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Public finance is divided into ..... branches A) 1. B) 2. C) 3. D) 4. Show Answer Correct Answer: B) 2. 2. The word budget comes from ..... A) The French bag. B) The French baguette. C) The Italian borsa. D) The Flemish bourse. Show Answer Correct Answer: A) The French bag. 3. Which of the following is an example of an indirect tax? A) Property tax. B) Estate tax. C) Excise tax. D) Corporate income tax. Show Answer Correct Answer: C) Excise tax. 4. Which of the following are capital receipts of the Government? A) Recovery of loan. B) Borrowings. C) Disinvestment. D) All of these. Show Answer Correct Answer: D) All of these. 5. Budget type A) Budget surplus balanced budget budget surplus. B) The budget maintains the value of the currency. income budget Tax budget. C) Budget surplus Budget deficit balanced budget. D) Thai people's budget Foreigner's budget Civil servant budget. Show Answer Correct Answer: C) Budget surplus Budget deficit balanced budget. 6. The Fiscal Responsibility and Budget Management (FRBM) Act aimed for1. eliminating both revenue deficit and fiscal deficit2. giving flexibility to RBI for inflation management A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: B) 2 only. 7. It is refers to an annual financial statement which outlines the estimated government expenditure and expected government receipts or revenues for the forthcoming fiscal year A) Private Budget. B) National Budget. C) Provincial Budget. D) Local Budget. Show Answer Correct Answer: B) National Budget. 8. The FRBM Act 2003 (as amended) became effective from A) July 5, 2004. B) July 6, 2004. C) July 7, 2004. D) July 8, 2004. Show Answer Correct Answer: A) July 5, 2004. 9. ..... deals with how a government raises revenues to meet its expenditure. A) Personal finance. B) Private policy. C) Public policy. D) Corporate policy. Show Answer Correct Answer: C) Public policy. 10. Which of these is not an objective of public finance? A) Price stability. B) Fair income distribution. C) Compulsory salary payments to citizens of an economy. D) Equity in the allocation of resources. Show Answer Correct Answer: C) Compulsory salary payments to citizens of an economy. 11. Which department-level government agency has the authority to collect sales tax only on commodity products such as liquor, tobacco, and beer? A) Revenue Department. B) Excise Department. C) Customs Department. D) Comptroller General's Department. Show Answer Correct Answer: B) Excise Department. 12. The division of power between a central government and state governments is called A) The United States. B) The Supremacy Clause. C) The Necessary and Proper Clause. D) Federalism. Show Answer Correct Answer: D) Federalism. 13. Trends shown by Public expenditure of any Government shows following trend. A) Constant. B) Increasing. C) Decreasing. D) Fluctuating. Show Answer Correct Answer: B) Increasing. 14. The medieval form which becomes the the model of government bonds later: A) Tithe. B) Rente. C) Juros. D) Assignata. Show Answer Correct Answer: B) Rente. 15. Type of income A) 1. Excise tax 2.Sales of goods and services 3.State commerce 4.Interest. B) Income from opec 2. Selling things 3. Government commerce 4. Other income. C) Income from Greenpeace Group 2. Selling things 3. Government commerce 4. Other income. D) 1. Taxation 2. Sales of government items and services 3. State commerce 4. Other income. Show Answer Correct Answer: D) 1. Taxation 2. Sales of government items and services 3. State commerce 4. Other income. 16. Public debit is formed when: A) A-Public income exceeds public expenditures. B) Both public expenditures and public income decrease. C) Both public expenditures and public income decrease. D) Public expenditures exceeds public income. Show Answer Correct Answer: D) Public expenditures exceeds public income. 17. An integrated group of activities that contribute to a particular continuing objective of a department/agency A) Program. B) Activity. C) Project. D) Outcome. Show Answer Correct Answer: A) Program. 18. Public expenditure is subject to- A) Diminishing marginal social Benefit. B) Increasing marginal social Benefit. C) Diminishing marginal social sacrifice. D) Increasing marginal social sacrifice. Show Answer Correct Answer: A) Diminishing marginal social Benefit. 19. Performance-based budgeting is the allocation of funds based on programmatic results that contribute to organizational goals. A) True. B) False. Show Answer Correct Answer: A) True. 20. PENSION or PENSION in English is: A) Unemployment benefit. B) Social security. C) Student grants. D) Disability allowances. E) Pension. Show Answer Correct Answer: E) Pension. ← 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