This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 43 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 43 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is a compulsory contribution by the people to the public treasury to meet the expenditure of the government A) Business Tax. B) Tax. Show Answer Correct Answer: B) Tax. 2. A piece of paper that shows the goods or services have been paid for A) Check. B) Sheet. C) Recipe. D) Receipt. Show Answer Correct Answer: D) Receipt. 3. ..... should provide information to determine whether current-year revenues were sufficient to pay for current-year services. A) FINANCIAL PLANNING. B) FINANCIAL REPORTING. Show Answer Correct Answer: B) FINANCIAL REPORTING. 4. The marginal utility graph looks like a ..... A) Supply curve. B) Demand curve. C) Revenue graph. D) None of the above. Show Answer Correct Answer: B) Demand curve. 5. Which of the following is a function of the public sector in the Philippines? A) Maximization of profits. B) Promotion of market competition. C) Provision of public goods and services. D) All of the above. Show Answer Correct Answer: C) Provision of public goods and services. 6. It is the legislative authority that contains the new appropriations in terms of specific amounts for salaries, wages, and other personnel benefits; maintenance and other operating expenses; and capital outlays authorized to be spent for the implementation of various programs/projects and activities of all departments, bureaus, and offices of the government for a given year. A) General Appropriations Act (GAA). B) Generally Appropriations Act (GAA). C) General Appropriatied Act (GAA). D) General Appropriationsalization Act (GAA). Show Answer Correct Answer: A) General Appropriations Act (GAA). 7. ..... is a payment made to the writer of a book or piece of music depending on how many books etc are sold. A) Salary. B) Commission. C) Royalty. D) Fee. Show Answer Correct Answer: C) Royalty. 8. Tax classifications ..... A) Progressive tax-average tax rate increases as income increases. B) Regressive tax-average tax rate declines as income increases. C) All are correct. D) Proportional tax-average rate stays the same as income increases or decreases Corporate income. Show Answer Correct Answer: C) All are correct. 9. Budget is a statement of Government financial plans including expenditures, ....., deficit or ....., and debt. A) Expenses surplus. B) Revenues surplus. Show Answer Correct Answer: B) Revenues surplus. 10. Stated below are the four areas of Public Finance, except for: A) Taxation. B) Government Expenditures. C) Budget Process. D) Public Debt. E) None of the Above. Show Answer Correct Answer: E) None of the Above. 11. Universal Access to Quality Tertiary Education Act implemented in what year? A) 2015. B) 2016. C) 2017. D) 2018. Show Answer Correct Answer: C) 2017. 12. What is the primary goal of public enterprises in the Philippines? A) Public goods and services. B) Providing Social Services. C) Promoting Economic Growth. D) Exporting goods and services. Show Answer Correct Answer: A) Public goods and services. 13. Which tax cannot be shifted to others? A) Excise duty. B) Sales tax. C) Entertainment tax. D) Wealth tax. Show Answer Correct Answer: D) Wealth tax. 14. Consumers (people who use the product), producers (people who produce the product), or both, pay this tax depending on elasticities of demand and supply. A) Sales taxes. B) Specific excises taxes. C) Tax incidence. D) Value-added taxes. Show Answer Correct Answer: B) Specific excises taxes. 15. If the burden of tax imposed by the government is transferable to others, it is called A) Direct tax. B) Tax revenue. C) State tax. D) Indirect tax. Show Answer Correct Answer: D) Indirect tax. 16. The excess of government's expenditure over its revenue receipts and non-debt capital receipts is A) Fiscal deficit. B) Revenue deficit. C) Primary deficit. D) Budget deficit. Show Answer Correct Answer: A) Fiscal deficit. 17. The goals of public expenditure are A) Promote faster economic development and balanced regional growth. B) Promote industry, trade and commerce. C) Both a and b. D) Only a. Show Answer Correct Answer: C) Both a and b. 18. What are the two types of grants A) Debt, undebt. B) Idle, non idle. C) Plan, non plan. D) 10.12. Show Answer Correct Answer: C) Plan, non plan. 19. The expenditure of the government on law and order is classified as ..... A) Productive expenditure. B) Unproductive expenditure. C) Capital Expenditure. D) None of the above. Show Answer Correct Answer: B) Unproductive expenditure. 20. Our tax money is spent on all of the following EXCEPT: A) Social Security. B) The military. C) Private Social Education. D) National Parks. Show Answer Correct Answer: C) Private Social Education. ← 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