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Worksheets

TACN1

Total questions: 131

Worksheet time: 1hrs 6mins

Name
Class
Date
1.

Activities of a firm that require the spending of cash are known as

a)

uses of cash

b)

cash collections

c)

cash receipts

d)

cash on hand

2.

A tax imposed on profits made by selling certain assets including stocks, bonds, or real estate .

a)

Capital gains tax

b)

income tax

c)

capital transfer tax

d)

sales tax

3.

What is not the functions of income tax?

a)

to limit good consumption

b)

to raise government's revenue

c)

to redistribute (phân phối) wealth

d)

to encourage capital (vốn)

4.

Reducing the amount of tax to a legal minimum is called....

a)

tax avoidance

b)

tax evasion

c)

tax payment

d)

tax exemption

5.

In an uncontrolled free market trade situation, there would be an international division of labor (lao động) resulting in the most efficient production of goods.

a)

With trade restrictions, countries specialize in what they produce.

b)

Specialization in production should be left uncontrolled.

c)

The most efficient production is a result of a free market.

d)

Labor always favors a free market trade situation.

6.

A tax is assessed (do) by a local government and paid for by the owner of a property

a)

income tax

b)

capital gain tax

c)

capital transfer

d)

property tax

7.

To reduce the money supply, Central banks sell Treasury bills to commercial banks and withdraw (rút tiền) the cash received (nhận) from........

a)

circulated

b)

circulation

c)

circulate

d)

circulator

8.

Companies usually use an investment bank to..........the issue, i.e. to guarantee to purchase all the securities at an agreed price on a certain day, if they cannot be sold to the public.

a)

post

b)

underwrite

c)

take

d)

publish

9.

……… is a measurement of increases or decreases in international ownership of assets

a)

balance of trade

b)

capital account

c)

financial account

d)

current account

10.

Relationships determined from a firm's financial data and used for comparison purposes are known

as …………….

a)

Financial ratios.

b)

Financial information

c)

Financial records

d)

accounts

11.

Making false declarations (kê khai) to the tax authorities is called …

a)

tax avoidance

b)

tax evasion

c)

tax payment

d)

tax exemption

12.

Purchased (mua) office (văn phòng) supplies for inventory (tồn kho) on account

a)

Increase in one asset, decrease in another asset.

b)

Increase in an asset, increase in a liability (nợ phải trả)

c)

Increase in an asset, increase in stockholder’s equity (vốn chủ sở hữu)

d)

Decrease in an asset, decrease in a liability.

13.

Paid rent or October in September.

a)

Increase in an asset, increase in a liability.

b)

Increase in one asset, decrease in another asset.

c)

Increase in an asset, increase in stockholder’s equity.

d)

Decrease in an asset, decrease in a liability.

14.

Which one of the following is a use of cash?

a)

Decrease in fixed assets

b)

Decrease in accounts payable.

c)

Increase in long-term debt

d)

Decrease in accounts receivables

15.

Economics is the study of ....... and consumption of goods and the transfer of wealth to produce and obtain those goods

a)

produce

b)

the production

c)

producer

d)

producible

16.

All government intervene through their.......... policies in a bid to achieve certain

policy objectives.

a)

economic

b)

microeconomic

c)

macroeconomic

d)

economical

17.

Britain last year spent nearly £5000 million and more on............. food than selling

abroad.

a)

import

b)

imports

c)

importing

d)

imported

18.

Monetary policy is one of the tools that a.......... government uses to influence

its economy.

a)

nation

b)

national

c)

nationality

d)

native

19.

Government policy about exports and imports is...........

a)

Commercial policy

b)

Monetary policy

c)

Fiscal policy

d)

Finance policy

20.

........... Is an amount of probable income and expenditure during a stated period.

a)

tax

b)

asset

c)

loan

d)

budget

21.

Macroeconomic stability means.........., low inflation, high economic growth and

so do,

a)

low competition

b)

low production

c)

low unemployment

d)

a and b

22.

Spending on......... (eg: improvements to out motorway network) helps provide the

capacity needed for other business to flourish.

a)

infrastructure

b)

accommodation

c)

industry

d)

transport system

23.

It is not the employer pays the wages. Employers only handle the money. It is the customer...........

pays the wages

a)

who

b)

that

c)

whom

d)

D. which

24.

..................................will lead to an increase in the demand of money:

a)

An increase in the supply of money

b)

An increase in the price level

c)

An increase in the level of aggregate output

d)

An increase of interest rate

25.

Fiscal policy is the Government policy related to ..............

a)

Spending

b)

inflation

c)

revenue

d)

spending and revenue

26.

............ is a way to reduce the amount of tax you pay to a legal minimum.

a)

tax avoidance

b)

tax shelter

c)

tax evasion

d)

tax heaven

27.

Increasing....... has led to a massive increase in the number of foreign

exchange transactions in recent decades.

a)

international market

b)

global

c)

globalization

d)

economy

28.

The equilibrium price changes when the supply and demand curves............

a)

move

b)

shift

c)

change

d)

stand

the same

29.

.....................are government securities with terms of more than one year

a)

treasury bills

b)

government bonds

c)

bills of exchange

d)

capital bills

30.

A............. market is a market in which there are many buyers and sellers of the same good or service.

a)

competed

b)

competition

c)

competitive

d)

competing

31.

By bringing forward capital expenditure, a company can taxable income and therefore........ its tax expense.

year-end

a)

increase/increase

b)

increase/decrease

c)

decrease/increase

d)

decrease/decrease

32.

.......... is frequently applied in reference to personal income taxes, where people with more income pay a higher percentage of that income in tax than do

those with less income.

a)

regressive tax

b)

income tax

c)

progressive tax

d)

tax avoidance

33.

As global transactions involve myriad of currencies, it is essential to set up............. for each currency.

a)

the value

b)

an exchange rate

c)

the standard

d)

purchasing power

34.

My insurance......... are only $50 per month.

a)

premiums

b)

receipts

c)

fees

d)

payings

35.

he law of demand says that a higher price for a good, other things equal, leads people to demand a …………quantity of the good.


a)

smaller

b)

bigger

c)

better

d)

worse

36.

The United States loses nearly $70 billion a year in tax revenue because

corporations loot America by shifting their profits to.........

overseas.

a)

tax hevens

b)

tax havens

c)

tax houses

d)

tax heavens

37.

Non-traditional exporters are exempt from...............machinery and equipment.

and VAT on imports of

a)

income tax

b)

customs duty

c)

payroll tax

d)

wage tax

38.

Fiscal policy involves setting government spending and tax rates, whereas monetary policy involves money supply and interest rates set by a............

a)

Central Bank

b)

World Bank

c)

Commercial Bank

d)

Shadow

Bank

39.

4. Raising the prices we charge the consumer would enable us to raise wages

until we reach an ........... between supply and demand.

a)

imbalance

b)

equal

c)

disparity

d)

equilibrium

40.

Unemployment, ....................and greater inequality are often the downside of a

market economy.

a)

inflation

b)

justification

c)

growth

d)

employment

41.

Sustainable............is a key indicator of the long-term health of the economy.

a)

produce

b)

to produce

c)

product

d)

productivity

42.

The government wants to accelerate the ........... of internet commerce

a)

grow

b)

grows

c)

growing

d)

growth

43.

A true monetary economy must therefore be using a ..............., which is

nowadays a paper currency.

a)

token money

b)

commodity money

c)

coin

d)

gold

44.

The employee can seek compensation from the employer for ..................... of contract.

a)

breach

b)

fulfillment

c)

failure

d)

bleach

45.

Investors are holding out from Mexican stocks until they see clear signs of an .............. recovery.

a)

economist

b)

economic

c)

economize

d)

economy

46.

On the market demand and supply graph, the vertical axis shows....

a)

demand

b)

equilibrium

c)

prices

d)

quantity

47.

In the price system of a market economy, prices are determined

by...

a)

central planning

b)

market forces

c)

political forces

d)

private investors

48.

If my government is selling me bread for $5 a loaf, and I have no choice but to buy that type of bread, I live in a ..... economy.

a)

Traditional

b)

Market

c)

Command

d)

Mixed

49.

The use of taxes and government spending to affect the economy....

a)

Monetary

Policy

b)

Fiscal Policy

c)

Contractionary policy

d)

Expansionary Policy

50.

Fiscal policy aims to influence the economic activity through the use of....

a)

money supply

b)

exchange rate

c)

government spending and

taxation

d)

direct and indirect taxation

51.

The rate which the Fed charges banks for a loan....

a)

Discount rate

b)

Federal fund

c)

reserve ratio

rate

d)

prime rate

52.

When CDs became popular, people stopped listening to tape cassettes.

This caused the...... curve for tape cassettes to shift.....

a)

demand/right

b)

demand/left

c)

supply/right

d)

supply/left

53.

Our tax money is spent on all of the following except....

a)

Social Security

b)

The Military

c)

Private School Education

d)

National Parks

54.

If the government takes in more than it spends it is known as..........

a)

balanced budget

b)

discretionary budget

c)

budget deficit

d)

budget surplus

55.

........, a simple four letter word, is the entire reason for the existence of the insurance industry.

a)

Risk

b)

Gold

c)

Danger

d)

Loss

56.

The change in the quantity of capital from one period to the next is equal to ...............

a)

financial investment

b)

net investment

c)

depreciation

d)

gross investment

57.

The Finance Minister will be making an official ............ Today about new

cates of income tax

a)

notice

b)

statement

c)

declaration

d)

talk

58.

A person's credit...... is a formal evaluation of his/her loan repayment

history or potential

a)

rating

b)

level

c)

rate

d)

records

59.

By adding a strawberry and blackberry crops to a corn and soybean farm, a

producer becomes more.....

a)

diversified

b)

specialized

c)

integrated

d)

motivated

60.

If the demand for tennis rackets increases, the price of rackets will....

a)

increase

b)

control

c)

decrease

d)

higher

61.

Before starting a business, you have to raise the necessary...

a)

capital

b)

money

c)

investment

d)

savings

62.

Creative..................... is finding ways of explaining how many has been spent while hiding what has really happened to it.

a)

booking

b)

accounting

c)

bookmaking

d)

auditing

63.

In the circular flow model, consumption goods are bought and sold in the......

a)

Goods market

b)

Factor market

c)

Financial market

d)

Government market

64.

Each department within the organization is given a...... with to remain for the whole year

a)

sum

b)

money

c)

dividend

d)

budget

65.

The product ...................... most interest were smaller and lighter models

a)

attracting

b)

attracted

c)

has attracted

d)

are attracting

66.

In the long term............is due to increase in the price of raw materials. This is the situation where prices rise to keep up with increased production cost.

a)

devaluation

b)

inflation

c)

recession

d)

crisis

67.

Coca-Cola employees enjoy high salaries...... they can claim

traveling expenses.

a)

In addition

b)

however

c)

Therefore

d)

So that

68.

A fall in prices can result in serious difficulties to many producers and many cause them to go ........... business completely.

a)

through

b)

out

c)

out of

d)

into

69.

A group of certain companies .................. the market when they have completely

controlled over particular commodities.

a)

corner

b)

advertise

c)

monopolize

d)

motivate

70.

We've spent a large part of our................on advertising.

a)

budget

b)

costs

c)

expenses

d)

amount

71.

All government intervene through their .............policies in a bid to achive certain policy objectives.

a)

Economy

b)

Microeconimic

c)

Macroeconomic

d)

Economical

72.

Employees have the right to claim their business......

a)

budget

b)

expenditure

c)

expenses

d)

amount

73.

Although the market is not growing, I expect sales to increase........... at least

until the end of the century.

a)

substantially

b)

on average

c)

steadily

d)

fairly

74.

Before starting a business, you have to raise the necessary..................

a)

Capital

b)

Money

c)

Investment

d)

Savings

75.

Revenue is calculated by ........... the price at which goods or services are sold

by the number of units or amount sold.

a)

multiple

b)

multiplying

c)

summing

d)

accounting

76.

The federal government collects revenue from a variety of taxes, in there…........become Trust Funds


a)
  1. Customs duties

b)
  1. Payroll taxes

c)
  1. Income taxes

d)
  1. Corporate taxes 

77.

 …..........results from an increase in the amount of circulating currency beyond the needs of trade.

a)
  1. Deficit           

b)

Inflation   

c)
  1. Surplus

d)
  1. Deficit spending

78.

The equilibrium price occurs… the supply of goods matches the demand for goods.

a)

  1. What       

b)
  1. Which     

c)
  1. Where  

d)
  1. Who

79.

Most economists are concerned…........ practical applications of economic policy in a particular area, such as finance, transportation, environment or health.  

a)
  1. Of      

b)
  1. To            

c)
  1. With              

d)
  1. For

80.

Inflation is a great …….to long-term investors because it erodes the value of future dollars.

a)

advantage

b)

favor

c)

threaten

d)

threat

81.

Any ……………transaction or violations of the policy must be reported to your immediate supervisor.


a)

improper

b)

reserved

c)

extinct

d)

anxious

82.

The advance in technology can create a (an)…………in the firm’s costs.


a)

increase

b)

rise


c)

amount

d)

decrease


83.

Two goods are …………...if a fall in the price of one of the goods makes consumers less willing to buy the other.


a)

complements

b)

normal goods

c)

inferior goods

d)

substitutes

84.
  1. The federal government collects revenue from a variety of taxes, in there …… are designated as federal funds.

a)
  1. payroll taxes

b)
  1. customs duties

c)
  1. excise taxes

d)

income taxes and corporate taxes

85.
  1. The higher the tax rate, the more people are tempted to cheat. ……… is an illegal activity, and it cludes dishonest tax reporting, undeclared part – time evening job, etc. 

a)
  1. Tax avoidance

b)
  1. Tax evasion

c)
  1. Tax pressure

d)

Tax reduction

86.
  1. One type of transactions in the forein exchange market is ……… which refer to the buying or selling of foreign currency with spot exchange rate at the time of the transaction and time frame for settlement within two business days. 

a)
  1. cash transactions

b)
  1. forward transactions

c)
  1. financial transactions

d)
  1. spot transactions

87.
  1. Monetary Policy is ……. when the money supply is increased.


a)

expansionary     

b)

restrictive   

c)

 contractionary     

d)

B and C

88.
  1. If the price increases, the quantity a buyer will purchase will …. and the quantity supplied will …. 

a)
  1. increase/ decrease

b)
  1. decrease/ increase

c)
  1. increase/ increase

d)
  1. decrease/ decrease

89.

 Payroll taxes paid jointly by …, accounting for 34 percent.

a)
  1. individuals 

b)
  1. workers and employers            

c)
  1.         

  2. businesses

d)
  1. individuals and businesses

90.

To contract the money supply, the Fed … bonds.

a)
  1. buys     

b)
  1. borrows 

c)

sells     

d)
  1. loans

91.

 .................… is a way to postpone the payment of tax.

a)
  1. tax voidance    

b)
  1. tax evasion

c)
  1. tax haven 

d)
  1. tax shelter

92.

 Tax is …...... fee imposed on individuals or corporations by the government to finance public programs.

a)
  1. optional 

b)
  1. compulsory 

c)
  1. innessential  

d)
  1. unnecessary

93.

Monetary policy is the policy of using the tools of credit and foreign exchange activities to ........… the currency.

a)
  1. stability 

b)
  1. stabilizing 

c)
  1. stabilize       

d)
  1. stable

94.

 If the central bank … reserve requirements, … the discount (bank) rate, or buys more bonds, it will increase bank lending capacity.

a)
  1. …raises…increases…  

b)
  1. lowers…raises… 

c)
  1.  

  2. …lowers…drops…  

d)
  1. …highers…drops…

95.

Public finance is a … for the government to intervene in the economy to regulate production and business activities.

a)
  1. concept    

b)
  1. topic     

c)
  1. tool    

d)
  1.      composition

96.

Public finance reform in Vietnam still has some limitations such as tax evasion, state budget revenue............the COVID-19 epidemic.

a)

affected by

b)

focuses on

c)

pump into

d)

required to

97.

Modern macroeconomics often uses econometric methods to build and test economic models based..... large amounts of economic data.

a)

In

b)

To

c)

On

d)

Off

98.

There is no restriction on entry and exit from a perfectly.............market.

a)

competition

b)

competitor

c)

compete

d)

competitive

99.

The management and supervision of public debt is ensured according to.......

a)

market principles

b)

market share

c)

market maker

d)

market price

100.

Tax and fee policies........ have been issued are basically transparent, simple and consistent with international integration commitments.

a)

what

b)

whose

c)

where

d)

who

101.

In Vietnam, the foreign exchange market is gradually stabilizing despite many

a)

Success

b)

Precedence

c)

Advantages

d)

Barriers

102.

Banks buy foreign currency........ the currency from depreciating against foreign currencies

a)

To keep

b)

keeping

c)

kept

d)

Keep

103.

The government strengthens the power to........ public investment, as well as implement an expansionary fiscal policy, reducing pressure on the currency.

a)

offer

b)

sell

c)

borrow

d)

disburse

104.

The bond issuer must pay...... to the bondholder and repay the loan when the bond matures.

a)

capital

b)

budget

c)

interest

d)

share

105.

Monetary policy is one of the most important tools of the state to manage and ..... the economy

a)

take

b)

run

c)

begin

d)

make

106.

The government should ............ more national budget to education and healthcare.

a)

provide

b)

Allocate

c)

Distribute

d)

Share

107.

It is also a means by which a ........ of income & wealth can be achieved.

a)

distribution

b)

distributing

c)

redistributing

d)

redistribution

108.

GNP is a ... of a country's economic performance, or what its citizens produced and whether they produced these items within its borders.

a)

indicator

b)

measurement

c)

measure

d)

ability

109.

The relationship between price and quantity supplied is called the...

a)

opposite relation

b)

law of demand

c)

law of supply/positive relation

d)

negative relation

110.

When debts are denominated in money, the real value of debts may change due to inflation and...

a)

crisis

b)

chaos

c)

devaluation

d)

deflation

111.

By bringing forward capital expenditure, a company can ... year-end taxable income and therefore.... its tax expense

a)

increase... increase

b)

increase... decrease

c)

decrease...increase

d)

decrease... decrease

112.

If a central bank uses the tools of monetary policy to reduce the demand for goods and services, the likely result is ............ inflation and .......... unemployment in the short run.

a)

lower, higher

b)

lower, lower

c)

higher; higher

d)

higher, lower

113.

If the price............ the quantity a buyer will.........

a)

Increases/decrease

b)

B. Decreases /decrease

c)

C. Increases/increase

d)

B&C

114.

The difference between tax evasion and avoiding tax:...

a)

A. Tax evasion is an illegal way to postpone the payment of tax

b)

Tax evasion is a legal way to postpone the payment of tax.

c)

A&D

d)

D. Avoiding tax is a legal way to postpone the payment of tax.

115.

..... is a way to delay the payment of tax to a later time.

a)

tax evasion

b)

tax avoidance

c)

tax haven

d)

tax shelter

116.

Economic trends refer to changes or ............ in economies.

a)

Development

b)

developments

c)

expansion

d)

advance

117.

If the government wants to increase employment, government purchases should be....... and/or taxes should be........

a)

increased; increased

b)

increased; decreased

c)

decreased; decreased

d)

decreased; increased

118.

Capital flows arising ....... trade in goods and services, international investment and loans together create this demand for foreign currency.

a)

from

b)

to

c)

of

d)

in

119.

Economics is best defined as the study of.......

a)

inflation, unemployment, and economic growth

b)

choices made by people faced with scarcity

c)

financial decision-making

d)

None of the above

120.

In order to influence spending on goods and services in the short-run, monetary policy is directed at directly influencing........

a)

unemployment rates

b)

inflation rates

c)

interest rates

d)

economic growth rates

121.

When the general price level rises, a unit of currency buys...... goods and services than in the past, so inflation reflects a decrease in purchasing power per unit of currency.

a)

More

b)

Few

c)

Fewer

d)

Less

122.

The rise in US interest rates caused the dollar to .......... against all the Asian currencies.

a)

raise

b)

reduce

c)

demand

d)

strengthen

123.

A movement along the demand curve to the right may be caused by a..........

a)

Increase in income

b)

Increase in supply

c)

Rise in the price of inputs

d)

Decrease in income

124.

A situation where the expenditure of the government exceeds its revenue is called.....

a)

Deficit revenue

b)

Default financing

c)

Budget deficit

d)

Default revenue

125.

Debt held by federal accounts is the debt that the federal government has borrowed... itself

a)

With

b)

From

c)

To

d)

For

126.

Countries have developed their economies, increased...of goods and met the market demands

a)

Producer

b)

Product

c)

Produce

d)

Production

127.

The federal government collects revenue from a variety of taxes , in there........become Trust Funds.

a)

Corporate taxes

b)

Income taxes

c)

Payroll taxes

d)

Customs duties

128.

....results from an increase in the amount of circulating currency beyond the needs of trade.

a)

Deficit spending

b)

Surplus

c)

Inflation

d)

Deficit

129.

The equilibrium price occurs... the supply of goods matches the demand for goods.

a)

Who

b)

Where

c)

Which

d)

What

130.

Most economists are concerned...... practical applications of economic policy in a particular area, such as finance, transportation, environment or health.

a)

For

b)

With

c)

To

d)

Or

131.

The standard .......... for internation trade and investment is the US dollar

a)

capital

b)

currency

c)

unit

d)

payment