Public Finance Objective Type Questions and Answers | Public Finance MCQs

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Questions
1 Zakat is not due on the gold owned by a person who has less than:
A 60 tolas
B 30 tolas
C 15 tolas
D 7.5 tolas

Answer: 7.5 tolas
2 Zakat can be spent for this purpose:
A Payment of fee of a poor child
B Performing Hajj
C Help poor parents
D All of the above

Answer: Payment of fee of a poor child
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3 It is a source of revenue for the Local overnment bodies:
A Corporation tax
B Value added tax
C Excise tax
D Property tax

Answer:Property tax
4 Federal government transfers to provinces as their share in tax collection:
A Less than 40%
B More than 40% but less than 60%
C More than 60%
D More than 90%

Answer:More than 40% but less than 60%
5 Which tax is not shared between central and provincial governments?
A Excise tax
B Sales tax
C Custom duty
D Property taxs

Answer:Property taxs
6 Which is provincial tax in Pakistan:

A Excise tax
B Sales tax
C Import duty
D Motors token tax

Answer: Motors token tax
7 Tax is a payment:
A Compulsory
B Voluntary
C Unnecessary
D Temporary

Answer: Compulsory
8 The main source of revenue of federal government is:
A Property taxes
B Token tax
C Custom duties
D Sales tax

Answer:Sales tax
9 In Pakistan government budget is prepared by:
A National assembly
B President of Pakistan
C Ministry of Finance
D State Bank of Pakistan

Answer:Ministry of Finance
10 In Pakistan Income tax is:
A Progressive tax
B Proportional
C Direct
D (a) and (c) of above

Answer:(a) and (c) of above

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