Public Finance Questions and Answers | Public Finance MCQs

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Questions
1 Pakistan's fiscal year starts from:
A 1st September
B 1st January
C 1st April
D 1st July

Answer:1st July
2 The Federal budget is presented in the parliament by:
A Prime minister
B President
C Finance minister
D Commerce minister

Answer:Finance minister
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3 Pakistan's Budget has parts:
A Current and development
B Revenue and expenditure
C Development and non-development
D Both (a) and (b)

Answer:Both (a) and (b)
4 Federal government tax revenue collection includes:
A Divisible taxes with provinces
B Divisible taxes with district govt.
C Non-tax revenue
D All of the above

Answer:Divisible taxes with provinces
5 Which is true:
A Federal govt. collects taxes and shares with provinces
B Provincial govt. collects taxes and shares with federal govt.
C Federal govt. collects taxes and shares with local govts
D Local govts. Collects, taxes and shares with federal govt.

Answer:Federal govt. collects taxes and shares with provinces
6 Which is true?

A Federal govt. has the right to collect taxes
B Provincial govt. has the right to collect taxes
C Local govt. has the right to collect taxes
D All of the above is true

Answer:All of the above is true
7 The most important body to collect taxes in Pakistan is:
A District govts
B State Bank
C Ministry of finance
D FBR

Answer:FBR
8 According to total amount collected the taxes fall in this order:
A Custom, excise, sales
B Sales, custom, excise
C Custom, sales, excise
D Excise, sales, custom

Answer:Sales, custom, excise
9 According to total amount collected the taxes fall in this order:
A Custom, sales tax, income tax
B Custom, income tax, sales tax
C Income tax, custom, sales tax
D Sales tax, custom, excise

Answer:Sales tax, custom, excise
10 Which is true about amount of taxes collected in Pakistan:
A Direct taxes are more than indirect taxes
B Indirect taxes are more than direct taxes
C Provincial taxes are more than federal
D Provincial govts. Share taxes with federal govt.

Answer:Indirect taxes are more than direct taxes

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