Public Finance Questions and Answers | Public Finance MCQs

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Questions
1 These are principles of taxation:
A Principle of equality
B Principle of certainty
C Principle of secrecy
D Both (a) & (b)

Answer: Both (a) & (b)
2 In Pakistan, taxes are levied by:
A Prime minister of Pakistan
B President of Pakistan
C Federal cabinet of ministers
D National assembly

Answer: National assembly
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3 Which of the following tax is best example of ability to pay principle of taxes:
A Excise tax on cigarettes
B Highway toll tax
C Proportional sales tax
D Personal income tax

Answer:Personal income tax
4 Govt. taxing and spending policies are called:
A Monetary policy
B Fiscal policy
C Commercial policy
D Finance policy

Answer:Fiscal policy
5 Govt. budget is balanced when:
A Govt. expenditure outstrips tax receipts
B Govt. tax receipts outstrips expenditure
C Government expenditure equals tax revenue
D None of the above

Answer:Government expenditure equals tax revenue
6 Government finance is called:

A National finance
B Public finance
C Private finance
D (a) and (b) of above

Answer: Public finance
7 How the government can meet its expenditure:
A By taxing people
B By borrowing from banks and other governments
C By printing new money
D By all the three methods

Answer: By all the three methods
8 The government can collect funds from:
A Taxes
B Fees
C Prices of public goods
D All the three

Answer:All the three
9 A direct tax is that which:
A Is heavy burden on the tax payers
B Can be directly deposited in the banks
C Can not be evaded
D Is paid by the person on whom it is levied

Answer:Is paid by the person on whom it is levied
10 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

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