Public Revenue

Which of the following is not the characteristics of a tax?

• Compulsory payment

• There is quid-pro-quo

• Involve some sacrifice

• None of the above

Which of the following terms refers to the incidence of tax?

• Real burden of tax

• Initial money burden of a tax

• Final money burden of a tax

• Indirect money burden of a tax

The tax's money burden in the case of perfectly elastic demand is:

• partially on the seller

• entirely on the buyer

• entirely on the seller

The money burden in the case of perfectly inelastic demand is:

• Entirely on the seller

• fully borne by the buyer

• shifted partially to the buyers

• partially on the seller

The incidence of tax is as follows in the case of perfectly elastic supply:

• Shifted partially to the buyers

• Borne fully by the seller

• Entirely on the buyer

Under constant condition, the burden of the tax is:

• Borne fully by the sellers

• Shifted partially to the buyers

• More than the amount of tax

• Shifted fully to the buyers

Special assessment means:

• General tax on all people

• Gift tax

• A tax for specific benefit conferred

• None of the above

In the case of direct tax, impact and incidence are on:

• Different person

• Same person

• Sellers

• None of these

Which of the following taxes is the most likely to be regressive?

• Sales tax on mobile phone

• Excise duties on Kerosene

• Import duties on electronic goods

• Entrainment tax

The following is an example of direct taxes:

• Toll tax

• Sales tax

• Excise duties

• Income tax