This quiz works best with JavaScript enabled. Home > Public Finance > Public Finance – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Public Finance Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is defined as fiscal deficit of current year minus interest payments on previous borrowings.a) Fiscal deficitb) Revenue deficitc) Primary deficitd) Budget deficitAnswer:c) Primary deficit A) Fiscal deficit. B) Revenue deficit. C) Primary deficit. D) Budget deficit. Show Answer Correct Answer: C) Primary deficit. 2. The central government budget is presented in Lok sabha by A) Prime minister. B) Finance minister. C) Home minister. D) All the above. Show Answer Correct Answer: B) Finance minister. 3. Financial obligations that the government has in the future that are not recognized in the annual budgetary process. A) Implicit obligation. B) Budget obligation. Show Answer Correct Answer: A) Implicit obligation. 4. Income means A) Money used by state enterprises to pay Collect interest from the public. B) Most of the money used by the government It is various types of money collected from the public. C) Only a small portion of the government money is spent. It is various types of money collected from the public. D) Most of the money used by the government It is various types of money collected from business owners except government officials. Show Answer Correct Answer: B) Most of the money used by the government It is various types of money collected from the public. 5. A country can borrow money to fill the gap between its expenditures and its income from: A) A-The Public & Other countries. B) A-The IMF. C) A-Only the world bank. D) A and b. Show Answer Correct Answer: D) A and b. 6. 4PS is implemented on what year? A) 2002. B) 2007. C) 2017. D) 2018. Show Answer Correct Answer: B) 2007. 7. An extra amount of money that is paid to a person or organization according to the value of the goods they have sold or the services they have provided A) Commission. B) Remuneration. C) Bonus. D) Perks. Show Answer Correct Answer: A) Commission. 8. Which of the following is an example of a revenue activity of public finance in the Philippines? A) Construction of public schools. B) Payment of salaries to government employees. C) Collection of taxes from individuals and businesses. D) Provision of healthcare services to the public. Show Answer Correct Answer: C) Collection of taxes from individuals and businesses. 9. The finance minister presents the Central budget in the A) Rajya sabha. B) Lok sabha. C) Both a) and b). D) None of these. Show Answer Correct Answer: B) Lok sabha. 10. Which is not a component of government revenue? A) Income. B) Loan. C) Accrual. D) Tax. Show Answer Correct Answer: C) Accrual. 11. Capitation Grant is a compulsary grant given by Federal Government to State Government A) Yes. B) No. Show Answer Correct Answer: A) Yes. 12. A taxation system where tax rate is the same at all income levels is called ..... tax A) Progressive. B) Regressive. C) Constant. D) Proportional. Show Answer Correct Answer: D) Proportional. 13. The following are the factors of Socialization except one. A) Langauge. B) Idenfication. C) Suggestion. D) Imitation. E) Diversity. Show Answer Correct Answer: E) Diversity. 14. What is the principle that says people who benefit directly from public goods should pay for them in proportion to the amount of benefits received? A) Ability-to-Pay Principle. B) Benefits-Received Principle. C) Incidence of a tax. D) Tax incentive. Show Answer Correct Answer: B) Benefits-Received Principle. 15. What is the purpose of BOT toll stations? A) To pay, upgrade, repair and maintain traffic routes. B) To collect money to serve activities for the Ministry of Transport. C) To raise awareness of traffic participants in traveling on that route. D) To improve the transportation system. Show Answer Correct Answer: A) To pay, upgrade, repair and maintain traffic routes. 16. ..... is an amount of money that is given back to you if you are not satisfied with the goods or services that you have paid for A) Receipt. B) Tax rebate. C) Discount. D) Refund. Show Answer Correct Answer: D) Refund. 17. Which of the following is NOT an objective of the FRBM Act 2003? A) To bring zero deficit. B) To reduce the burden of debt repayment. C) To improve transparency in fiscal operations. D) To reduce corruption. Show Answer Correct Answer: D) To reduce corruption. 18. Find odd word out: A) Fines and penalties. B) Registration fees. C) Education fees. D) Administration fees. Show Answer Correct Answer: A) Fines and penalties. 19. Which of the following is a reason why taxation is relevant to political stability? A) It promotes government corruption. B) It reduces government accountability. C) It provides a source of government revenues for public goods and services. D) It increases economic inequality. Show Answer Correct Answer: C) It provides a source of government revenues for public goods and services. 20. Anything that is purchased with the hope that it will generate income or be more valuable at a future date. A) Investment. B) Loan. C) Income. D) Expense. Show Answer Correct Answer: A) Investment. ← PreviousNext →Related QuizzesPublic Finance Quiz 1Public Finance Quiz 2Public Finance Quiz 3Public Finance Quiz 4Public Finance Quiz 6Public Finance Quiz 7Public Finance Quiz 8Public Finance Quiz 9Public Finance Quiz 10Public Finance Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books