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question_answer1) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Income tax is a direct tax. Reason (R): Because the impact and incidence lies on the same person.
question_answer2) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Escheat is a revenue receipt. Reason (R): Because it increases the assets of the government
question_answer3) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Disinvestment is a capital expenditure of the government. Reason (R): Because disinvestment decreases the assets of the government.
question_answer4) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Recoveries of loans and advances are capital receipts of the government. Reason (R): Because they decrease the assets of the government.
question_answer5) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Fiscal Deficit = ﱠTotal Expenditure > Total Receipts excluding borrowings and other liabilities of the government. Reason (R): Because fiscal deficit reflect the borrowing requirements of the government.
question_answer6) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Primary Deficit = Fiscal Deficit - Interest Payments. Reason (R): Because primary deficit reflect the borrowing requirements of the government other than interest payments.
question_answer7) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Government imposes taxes on wealthy section and gives subsidies to the weaker section of the society. Reason (R): Because government wants to decrease the gap between haves and have not.
question_answer8) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Budget is presented on the first day of February. Reason (R): It is presented by the Home Minister.
question_answer9) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Government imposes heavy taxes on harmful products like tobacco and gives subsidies on LPG. Reason (R): In order to achieve goals of profit maximisation and social welfare.
question_answer10) Directions : Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternative. Assertion (A): Budget is prepared at centre, state and local level. Reason (R): State budget is known as Union Budget.
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