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question_answer1)
Budget is presented as on:
A)
2 February done
clear
B)
15 February done
clear
C)
1 February done
clear
D)
31 March done
clear
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question_answer2)
Budget is presented by:
A)
Home Minister done
clear
B)
Prime Minister done
clear
C)
Chief Minister done
clear
D)
Finance Minister done
clear
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question_answer3)
Tax and non-tax receipts are the components of:
A)
Capital receipts done
clear
B)
Revenue receipts done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer4)
The claim of the government on the property of a person who dies without making a will or leaving behind any legal heir:
A)
Penalties done
clear
B)
Escheat done
clear
C)
Special assessment done
clear
D)
Challan done
clear
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question_answer5)
The payment made by owners of those properties whose value has appreciated due to developmental activities of the government are called as:
A)
Penalties done
clear
B)
Escheat done
clear
C)
Special assessment done
clear
D)
Challan done
clear
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question_answer6)
Source of capital receipts are except:
A)
Borrowings done
clear
B)
Escheat done
clear
C)
Disinvestment done
clear
D)
Recoveries of loans and advances done
clear
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question_answer7)
The burden of a........... tax cannot be shifted, i.e. impact and incidence is on the same person.
A)
direct done
clear
B)
indirect done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer8)
The burden of a ............ tax can be shifted, i.e. impact and incidence is on different persons.
A)
direct done
clear
B)
indirect done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer9)
They are generally progressive in nature:
A)
Direct tax done
clear
B)
Indirect tax done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer10)
They are generally proportional in nature:
A)
Direct tax done
clear
B)
Indirect tax done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer11)
The government should try to impose a higher rate of taxation on rich people, and the government should give subsidies to the weaker section of the society:
A)
Economic stability done
clear
B)
Reallocation of resources done
clear
C)
Redistribution of income and wealth done
clear
D)
None of the above done
clear
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question_answer12)
The government should try to impose a higher rate of taxation on harmful products such as cigarette, liquor, etc. order to decrease their production. And the government should give subsidies to the essential products like kerosene, LPG, etc. order to increase their production:
A)
Economic stability done
clear
B)
Reallocation of resources done
clear
C)
Redistribution of income and wealth done
clear
D)
None of the above done
clear
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question_answer13)
In order to overcome inflation in the economy, government should go for surplus budgetary policy and in order to overcome deflation in the economy, government should go for deficit budgetary policy.
A)
Economic stability done
clear
B)
Reallocation of resources done
clear
C)
Redistribution of income and wealth done
clear
D)
None of the above done
clear
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question_answer14)
Government budget helps the government to provide investment in profit making PSU and disinvestment in the Sick PSU:
A)
Controls and manages PSUs done
clear
B)
Reallocation of resources done
clear
C)
Redistribution of income and wealth done
clear
D)
None of the above done
clear
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question_answer15)
............ deficit refers to excess of revenue expenditure over revenue receipts during the given fiscal year.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer16)
............ deficit refers to excess of total expenditure over total receipts during the given fiscal year.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer17)
............ deficit refers to excess of total expenditure over total receipts excluding borrowings.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer18)
............ deficit refers to the difference between fiscal deficit of the current year and the interest payments on the previous borrowings.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer19)
............ deficit indicates how much government should borrow to meet expenses other than interest.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer20)
A low or zero, ............ deficit indicates that interest commitments (on earlier loans) have compelled the government to borrow.
A)
revenue done
clear
B)
budgetary done
clear
C)
fiscal done
clear
D)
primary done
clear
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question_answer21)
............ deficit indicates borrowing requirements of the government including interest
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer22)
............ deficit indicates inability of the government to meet its regular and recurring expenditures.
A)
Revenue done
clear
B)
Budgetary done
clear
C)
Fiscal done
clear
D)
Primary done
clear
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question_answer23)
The sources of financing fiscal deficit are borrowings and deficit financing (printing of new currency notes). Which is a better source and do not increase money supply (inflation)?
A)
Deficit financing done
clear
B)
Borrowings done
clear
C)
Both (a) and (b) done
clear
D)
None of these done
clear
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question_answer24)
Primary deficit in a government budget will be zero, when
A)
revenue deficit is zero done
clear
B)
net interest payments are zero done
clear
C)
fiscal deficit is zero done
clear
D)
fiscal deficit is equal to interest payments done
clear
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question_answer25)
Which one of the following is not a capital expenditure?
A)
Loans advanced by World Bank done
clear
B)
Construction of school building done
clear
C)
Repayment of loans done
clear
D)
None of the above done
clear
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question_answer26)
Dividends received from Public Sector Undertakings (PSUs) are a part of the government's.............
A)
non-tax revenue receipts done
clear
B)
tax receipts done
clear
C)
capital receipts done
clear
D)
capital expenditure done
clear
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question_answer27)
Deficit budget refers to the situation when:
A)
budget expenditure > budget receipt done
clear
B)
budget expenditure < budget receipt done
clear
C)
budget expenditure = budget receipt done
clear
D)
None of the above done
clear
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question_answer28)
Surplus budget is that where:
A)
government revenue < government expenditure done
clear
B)
government revenue > government expenditure done
clear
C)
government revenue = government expenditure done
clear
D)
None of the above done
clear
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question_answer29)
Fiscal deficit is:
A)
total expenditure - total receipts other than borrowings during an accounting year done
clear
B)
revenue expenditure - revenue receipts done
clear
C)
capital expenditure - capital receipts done
clear
D)
revenue expenditure + capital expenditure revenue receipts done
clear
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question_answer30)
Excess total expenditure over total receipts excluding borrowing is called:
A)
revenue deficit done
clear
B)
fiscal deficit done
clear
C)
primary deficit done
clear
D)
budget deficit done
clear
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question_answer31)
Primary deficit is:
A)
fiscal deficit minus net interest payments done
clear
B)
the difference between fiscal deficit and revenue deficit done
clear
C)
the borrowing requirements of the government done
clear
D)
when government's own revenue is insufficient to meet its current revenue expenditure done
clear
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question_answer32)
The government budget has a revenue deficit. This gets financed by: |
(i) Borrowings |
(ii) Disinvestment |
(iii) Tax revenue |
(iv) Indirect taxes |
A)
(i) and (iv) done
clear
B)
(iii) and (iv) done
clear
C)
(i) and (ii) done
clear
D)
(iii) and (ii) done
clear
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question_answer33)
Which of the following is not true for fiscal deficit? A fiscal deficit:
A)
represents the borrowings of the government done
clear
B)
is the difference between total expenditure and total receipts of government done
clear
C)
is the difference between total expenditure and total receipts other than borrowings done
clear
D)
increases future liability of the government done
clear
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question_answer34)
Revenue receipts are equal to:
A)
disinvestment done
clear
B)
borrowings done
clear
C)
receipts from tax revenue and non-tax revenue done
clear
D)
recovery of loss done
clear
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question_answer35)
Capital receipts come from:
A)
recovery of loans done
clear
B)
market borrowing done
clear
C)
provident fund done
clear
D)
All of these done
clear
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question_answer36)
Borrowing is a capital receipt because:
A)
it creates liabilities done
clear
B)
it creates an asset done
clear
C)
it reduces a liability done
clear
D)
All of these done
clear
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question_answer37)
Non-tax receipt is:
A)
gift tax done
clear
B)
interest receipts from the loans given by the govt. done
clear
C)
excise duty done
clear
D)
sales tax done
clear
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question_answer38)
Repayment of loan is:
A)
capital expenditure done
clear
B)
revenue receipts done
clear
C)
revenue expenditure done
clear
D)
capital receipts done
clear
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question_answer39)
In government budget, primary deficit is Rs. 10,000 crore interest payment is Rs. 6,000 crore, then fiscal deficit is Rs. ....... crore.
A)
16,000 done
clear
B)
17,000 done
clear
C)
18, 000 done
clear
D)
5,000 done
clear
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question_answer40)
When the burden of tax is shifted on others it is called:
A)
direct tax done
clear
B)
indirect tax done
clear
C)
specific tax done
clear
D)
None of these done
clear
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question_answer41)
What is revenue deficit when revenue expenditure is Rs. 100 crore and revenue receipts is Rs. 80 crore?
A)
Rs. 180 crore done
clear
B)
Rs. 20 crore done
clear
C)
Rs. 200 crore done
clear
D)
None of these done
clear
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question_answer42)
If fiscal deficit is Rs. 35 crore and interest payment is Rs. 10 crore, then primary deficit is:
A)
Rs. 25 crore done
clear
B)
Rs. 45 crore done
clear
C)
Rs. 20 crore done
clear
D)
None of these done
clear
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question_answer43)
In the context of government budget, which of the following statement is correct?
A)
Budget is a statement of expected annual receipts and expenditures of the government done
clear
B)
It is a detail of actual receipts and expenditures of the government in a financial year done
clear
C)
It offers a detailed description of achievements of the government during the 5 year plans done
clear
D)
It indicates BoP status of the domestic economy done
clear
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question_answer44)
Capital expenditure is that estimated expenditure of the government by which:
A)
assets are increased done
clear
B)
liability is decreased done
clear
C)
Both (a) and (b) done
clear
D)
assets and liabilities do not change done
clear
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question_answer45)
A tax, the burden of which can be shifted on to others, is called:
A)
indirect tax done
clear
B)
direct tax done
clear
C)
ad valorem done
clear
D)
specific tax done
clear
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question_answer46)
'Policies of surplus budget during inflation' is a part of which objective of government budget?
A)
Economic growth done
clear
B)
Economic stability done
clear
C)
Reducing regional disparities done
clear
D)
Reallocation of resources done
clear
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question_answer47)
Which is not an objective of government budget?
A)
Redistribution of income and wealth done
clear
B)
Export promotion done
clear
C)
Social welfare done
clear
D)
Economic stability done
clear
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question_answer48)
Disinvestment by government means:
A)
selling of its fixed capital assets done
clear
B)
selling of shares of public enterprise held by it done
clear
C)
selling of its buildings done
clear
D)
All of the above done
clear
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