This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 34 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 34 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Two of the most important from the point of view of business finance. A) Balance Sheet and Income Statement. B) Cash Flows and Statement of Owners Equity. Show Answer Correct Answer: A) Balance Sheet and Income Statement. 2. Which of the following is not classified as an indirect tax? A) VAT. B) Specific business tax. C) Customs duty. D) Corporate income tax. Show Answer Correct Answer: D) Corporate income tax. 3. How can high tax rates negatively impact economic efficiency? A) By reducing consumer spending and decreasing demand for goods and services. B) By discouraging businesses from investing and expanding their operations. C) By encouraging tax evasion and underground economic activities. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. ..... is the difference between the face value of money and the cost to produce it. A) Subsidy. B) 'Seigniorage'. C) Taxation. D) Surplus Value. Show Answer Correct Answer: B) 'Seigniorage'. 5. There are 2 main types of budget expenditures for local government organizations. A) Central budget expenses and capital budget expenses. B) Planned expenses and regular expenses. C) General expenditure budget and specific expenditure budget. D) Regular expenses and central budget expenses. Show Answer Correct Answer: C) General expenditure budget and specific expenditure budget. 6. Bonds without maturity: A) Consuls. B) Consols. C) Consorts. D) Concise. Show Answer Correct Answer: B) Consols. 7. .... are the major sources of revenue for the government. A) Net revenue. B) Public revenue. C) Revenue receipts. D) Tax. Show Answer Correct Answer: D) Tax. 8. ..... are those which convert raw materials into finished products. A) MANUFACTURING INDUSTRIES. B) GENETIC INDUSTRIES. Show Answer Correct Answer: A) MANUFACTURING INDUSTRIES. 9. Maximizing Profit means realizing the highest possible peso or dollar income. A) Maximizing Profitability. B) Maximizing Profit. Show Answer Correct Answer: B) Maximizing Profit. 10. The correct group of indirect tax is A) Corporate tax, personal income tax, GST. B) GST, export.-import tax and VAT. C) Stamp duty, export import tax and GST. D) Wealth Tax, GST and VAT. Show Answer Correct Answer: B) GST, export.-import tax and VAT. 11. The perpetual problem in economics is: A) The inability of people to work together effectively. B) The inability to satisfy everyone's wants with the resources available. C) The gap between the income of the rich and the poor. D) How to supply enough to earn a consistent profit. Show Answer Correct Answer: B) The inability to satisfy everyone's wants with the resources available. 12. PIB in budgeting Stands for? A) Press information bureau. B) Performance Informed budgeting. C) Performance Incentive Bonus. D) Performance. Show Answer Correct Answer: B) Performance Informed budgeting. 13. Which is not in the Vicious Circle of Poverty? A) Savings and investments. B) Income. C) Deflationary inflation. D) Employment. Show Answer Correct Answer: C) Deflationary inflation. 14. Following r the indirect tax A) Pit. B) Bit. C) Cit. D) Sales tax. Show Answer Correct Answer: D) Sales tax. 15. How many types of fiscal policy can be divided? A) 5 types. B) 4 types. C) 3 types. D) 2 types. Show Answer Correct Answer: D) 2 types. 16. The expenditure incurred by public authorities like central, state and local governments to satisfy the collective social wants of the people is known as A) Capital expenditure. B) Revenue expenditure. C) Public expenditure. D) Budget expenditure. Show Answer Correct Answer: C) Public expenditure. 17. Identify an objective interdisciplinary team to evaluate budget requests and proposals and make recommendations based on the current fiscal year overview. A) True. B) False. Show Answer Correct Answer: A) True. 18. ..... are the people to whom the government delivers/serves with public goods and services A) Public Officials. B) Public. C) Government Employee. D) Private Individual. Show Answer Correct Answer: B) Public. 19. Which of the following is a local tax in the Philippines? A) Income tax. B) Excise tax. C) Real property tax. D) Value-added tax. Show Answer Correct Answer: C) Real property tax. 20. States must ensure that a social security system, however, composed, is available to provide benefits to address relevant impacts on livelihood. Such system must be administered or regulated by the State, and should be sustainable to provide continuity over generations. A) Availability. B) Social risks and contingencies. C) Adequacy. D) Accessibility. Show Answer Correct Answer: A) Availability. ← 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