GkSeries.com

Public Finance Multiple Choice Questions and Answers | Public Finance MCQs

Download PDF

Free download in PDF Public Finance Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, NDA, SSC etc. These short solved questions or quizzes are provided by Gkseries./p>

Go To Download Page
(1) Which of the following is a union tax?
[A] Corporation tax
[B] Taxes on agricultural income
[C] Capitation taxes
[D] Land revenues
Answer: Corporation tax
(2) Consider the following statements and identify the right ones.

i. Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.

ii. The constitution also provides for transferring certain tax revenues from union list to states.

[A] i only
[B] ii only
[C] both
[D] none
Answer: ii only

DOWNLOAD CURRENT AFFAIRS PDF FROM APP

(3) The tax levied by the union government on income of individuals is known as
[A] Personal income tax
[B] Interest tax
[C] Wealth tax
[D] Corporation tax
Answer: Personal income tax
(4) Which from the following statement(s) is/are NOT true?

I. Projects have defined objectives

II. Programs have a larger scope than projects

III. The projects and programs in a portfolio must be directly related

[A] I only
[B] II only
[C] III only
[D] II and III only
Answer: III only
(5) The tax on net income of companies is
[A] Personal income tax
[B] Interest tax
[C] Wealth tax
[D] Corporation tax
Answer: Corporation tax
(6) Consider the following statements and identify the right ones.

i. Wealth tax is collected from productive as well as unproductive assets

ii. Estate duty was a type of inheritance tax of large estates

[A] i only
[B] ii only
[C] both
[D] none
Answer: ii only
(7) Which of the following taxes is/are withdrawn or abolished?
[A] Interest tax
[B] Estate duty
[C] Gift tax
[D] All the above
Answer: All the above
(8) The most important source of revenue to the states is
[A] Sales tax
[B] Service tax
[C] Excise duty
[D] None of the above
Answer: Sales tax
(9) The tax levied on the interstate trade of goods is
[A] Sales tax
[B] Excise tax
[C] Service tax
[D] Central sales tax
Answer: Central sales tax
(10) Consider the following statements and identify the right ones.

i. The 14th finance commission is headed by C. Rangarajan

ii. The recommendations of the commission will come into effect from April, 1, 2015

[A] i only
[B] ii only
[C] both
[D] none
Answer: ii only

Please share this page

Click Here to Read more questions

Teacher Eligibility Test