PUBLIC FINANCE AND BUDGET 3

1.      In developing countries like India, the governments normally prepare _____  budget.

 

• Balanced budget

• Surplus budget

• Deficit budget

• Financial budget

2.      Public Authorities includes

• Central government

• State government

• Local government

• All of these

3.      The expenditure incurred by public authorities like central, state and local governments to satisfy the collective social wants of the people is known as

•   Capital expenditure

• Revenue expenditure

• Public expenditure

• Budget expenditure

4.      The goals of public expenditure are

• Promote faster economic development and balanced regional growth

• Promote industry, trade and commerce

• Both a and b

• Only a

5.      The income mobilized by the government for purposes of financing the government's activities is called

• Public revenue

•   Net revenue

• Operating revenue

• Service revenue

6.      The revenue generated by the government through taxes and non-tax sources is called

• Capital receipts

•   Revenue receipts

• Public debit

• None of the above

7.      The compulsory payment by citizens to the government without expecting any direct benefit in return is called

• Tax

•   Revenue receipts

• Public revenue

• Net revenue

8. _______  are the major sources of revenue for the government.

•    Net revenue

• Public revenue

• Revenue receipts

• Tax

9.      The government imposes higher rate of taxes on

• High income group

• Low income group

• Medium income group

• All of these

10.      The government imposes lower rate of taxes on

• High income group

• Low income group

• Medium income group

• All of these