This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 42 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 42 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A performance budget is one that reflects ..... for each unit of an organization. A) The input of resources. B) Both the input of resources and the output of services. C) The output of services. D) Neither the input of resources nor the output of services. Show Answer Correct Answer: B) Both the input of resources and the output of services. 2. External loans can be raised from: A) RBI. B) SBI. C) IMF. D) WTO. Show Answer Correct Answer: C) IMF. 3. The income mobilized by the government for purposes of financing the government's activities is called A) Public revenue. B) Net revenue. C) Operating revenue. D) Service revenue. Show Answer Correct Answer: A) Public revenue. 4. Finance is engaged in the buying and selling of goods and services are classified as those falling under commerce. A) TRUE. B) FALSE. Show Answer Correct Answer: B) FALSE. 5. It shows everything that the firm owns and which has a monetary value. A) Current Asset. B) Asset. Show Answer Correct Answer: B) Asset. 6. LOSS in English is: A) Lose. B) Lost. C) Loss. D) Losing. Show Answer Correct Answer: C) Loss. 7. In which of the following ways, can deficit in budget be financed? A) Borrowings from RBI. B) Borrowing from public. C) Borrowing from IMF. D) All of the above. Show Answer Correct Answer: D) All of the above. 8. ..... are goods and services that are available to all people at no extra cost. They are "non-excludable' and "non-rival' A) Private Goods. B) Public Goods. C) Economic Goods. D) Substitute Goods. Show Answer Correct Answer: B) Public Goods. 9. Which of the following is a component of public debt? A) Interest payments. B) Tax revenues. C) Public goods. D) None of the above. Show Answer Correct Answer: A) Interest payments. 10. Which of the following definitions corresponds to? "Increasing the power of fiscal management and self-responsibility to the local government, which covers both income and expenditure budget planning. and fiscal management such as procurement, accounting, and various finances to bring the government sector closer to the people." A) Decentralization of political power. B) Fiscal decentralization. C) Administrative decentralization. D) Division of government power. Show Answer Correct Answer: B) Fiscal decentralization. 11. The FRBM Act requires the planning of ..... before both houses of Parliament A) Fiscal Policy Strategy Statement. B) Macroeconomic Framework Statement. C) Medium-Term Fiscal Policy Statement. D) All of the Above. Show Answer Correct Answer: D) All of the Above. 12. Banknotes, coins and call deposits What type of money (current deposit) is it? A) With. B) What. C) M1. D) M0. Show Answer Correct Answer: C) M1. 13. Known as the Universal Access to Quality Tertiary Education Act was signed into law in August 2017 by President Rodrigo Duterte, providing underprivileged Filipino students the opportunity to pursue college degrees through free tuition and exemption of other fees in SUCs A) Republic Act 10988. B) Republic Act 10967. C) Republic Act 10943. D) Republic Act 10931. Show Answer Correct Answer: D) Republic Act 10931. 14. Not gradually, immediately A) Bargain. B) In bulk. C) Outright. D) Haggle. Show Answer Correct Answer: C) Outright. 15. Which statement is incorrect about Dr. Puey Ungphakorn? A) Former 7th Governor of the Bank of Thailand. B) He is the governor of the Bank of Thailand who has held the position for the longest time. C) He is the youngest Governor of the Bank of Thailand. D) He was the proponent of the four-piston balloon theory. Show Answer Correct Answer: D) He was the proponent of the four-piston balloon theory. 16. Which of the following is an example of a government agency in the Philippines? A) Globe Telecom. B) Bureau of Customs. C) Jollibee Foods Corporation. D) BDO Unibank. Show Answer Correct Answer: B) Bureau of Customs. 17. What is the difference between an expense and an expenditure? A) Both the terms-Expense vs expenditure are used in accounting to refer to the costs the business has. B) All are correct. C) Expenses are those which are incurred for a short-term basis and expenditures are incurred for a long-term period. D) Neither is correct. E) Businesses that are nonprofit like govt uses the term expenditure. Retail stores use the term expense for their costs. Show Answer Correct Answer: B) All are correct. 18. If you buy a bond, the price you pay is equivalent to what the bond is worth A) True. B) False. Show Answer Correct Answer: B) False. 19. Elected officials are politically accountable to the electorate or their constituencies who voted them to their positions. These elected officials are held responsible thru regular elections and other means. A) True. B) False. Show Answer Correct Answer: A) True. 20. Which government agency is responsible for regulating the banking industry in the Philippines? A) Bangko Sentral ng Pilipinas. B) Securities and Exchange Commission. C) Department of Trade and Industry. D) Philippine Competition Commission. Show Answer Correct Answer: A) Bangko Sentral ng Pilipinas. ← 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