Public Finance Questions and Answers for Exams

Questions

1 Pakistan's fiscal year starts from:

A 1st September

B 1st January

C 1st April

D 1st July

View Answer

Answer:1st July

2 The Federal budget is presented in the parliament by:

A Prime minister

B President

C Finance minister

D Commerce minister

View Answer

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)

View Answer

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

View Answer

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.

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer

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.

View Answer

Answer:Indirect taxes are more than direct taxes

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