Public Revenue

Public Revenue & Public Debt 

Multiple Select

Taxes have quid pro quo

• True

• False

What is quid pro quo ?

Proportionate return.

Taxes do not have proportionate return or quid pro quo.  

Multiple Select

Features of Taxes

• Compulsory payment

• specific welfare

• No quid pro quo

• Proportionate return

• General welfare

Features of Taxes 

• Compulsory payments 

• General welfare 

• No Quid pro quo 

Multiple Choice

What is commercial revenue ?

• Revenue collected by government by selling goods and services to the public.

• Revenue collected by government from foreign nationals working in the country.

• Revenue collected by government by taking loans.

Multiple Choice

Tax is a ___(1) while commercial revenue is ____(2)

• compulsory / optional

• Optional / compulsory

Difference between Tax and Price 

1. Tax is compulsory payment while price is optional 

2. Tax has no guaranteed benefit while price has a direct benefit 

3. Tax is used for general benefit while only the price payer gets the benefit. 

Multiple Choice

As a result of government revenue, the property value may rise. Such cases are known as ________

• Forfeiture

• Special Assessment

• Escheat

Multiple Choice

If an individual fails to appear in court, government may impose a __________

• forfeiture

• Escheat

• Fines and penalty

Multiple Choice

Public Debt is when

• ...the general public takes loan from banks

• ...when government takes loans from from its subjects within the country or from other countries.

• ...private people take loans from other countries. .

Public debt is the debt which the government owes to its....

• subjects or...

• nationals of other countries 

Multiple Choice

These loans are used by the government for projects that yields income

• Productive loans

• Unproductive loans

• Short term loans

• Long term loans

Multiple Choice

The US has approved loans and investments worth more than $340 million for Indian firms and organisations as part of its efforts to uplift under-served communities around the world against the backdrop of the Covid-19 pandemic.

This is an example of...

• Internal debt

• external debt

• Short term debts

• Productive debt

Multiple Choice

Short term loans are raised for a period of...

• 1 - 5 years

• 3 to 9 months

• 6 to 12 months

Multiple Choice

Rohan wants to offer some loans to the government at fixed time of repayment with a security....he should opt for.....

• Irredeemable debt

• redeemable debt

• Convertible debt

Multiple Choice

If the government re - issues an old loan as a new loan with revised rates of interest and repayment dates, it is called.....

• convertible debt

• non convertible debt

• redeemable debt

Multiple Choice

If a debt has no maturity period, it is called a....

• Non convertible debt

• Convertible debt

• Irredeemable debt

• redeemable debt

Multiple Choice

These loans are used by the government for projects that yields income

• Productive loans

• Unproductive loans

• Short term loans

• Long term loans