Worksheetsgovernment budget
Total questions: 14
Worksheet time: 7mins
1.In the context of government budget, which of the following statements is correct?
(a) It is a statement of expected annual receipts and expenditures of the government
(b) It is a detail of actual receipts and expenditures of the government in a financial year
(c) It offers a detailed description of achievements of the government during the five-year plans
(d) It indicates BoP status of the domestic economy
2. Which of the following are the objectives of government budget?
(a) Distribution of income and wealth
(b) Economic stability
(c) GDP growth
(d) All of these
3. Which of the following is a non-tax receipt?
(a) Gift tax
(b) Sales tax
(c) Donations
(d) Excise duty
4. Progressive tax is a tax which is:
(a) charged at a decreasing rate when income of the individual increases
(b) charged at an increasing rate when income of the individual increases
(c) a fixed percentage of an individual income
(d) none of these
5. Revenue earned by the government from the property without any legal heir is called
(a) donation
(b) escheat
(c) special assessment
(d) both (b) and (c)
6. A tax, the burden of which can be shifted on to others, is called:
(a) indirect tax
(b) direct tax
(c) wealth tax
(d) none of these
7. Tax, the impact of which lies on the person on whom it is legally imposed, is known as:
(a) indirect tax
(b) direct tax
(c) value added tax
(d) none of these
8. Which one of the following is an indirect tax?
(a) Wealth tax
(b) Excise duty
(c) Income tax
(d) None of these
9. Which of the following is a direct tax?
(a) Income tax
(b) Excise duty
c) Sales tax
d) Custom duty
10. Tax that is imposed on value added at the various stages of production is known as:
(a) corporate profit tax
(b) direct personal tax
(c) value added tax
(d) none of these
11. Gift tax is a paper tax because:
(a) it is an indirect tax
(b) it is a direct tax
(c) it does not have significant revenue yield
(d) both (b) and (c)
12. Which of the following is not a non-tax receipt?
(a) Fees
(b) Fines
(c) Gift tax
(d) Grants and donations
13. Which of the following is a part of the revenue expenditure in the Indian Government budget?
(a) Interest payments
(b) Defence purchases
(c) Wage bill of the government
(d) All of these
14. Capita l receipt is that receipt of the government which
(a) creates a liability
(b) reduces the assets
(c) both (a) and (b)
(d) neither (a) nor (b)
