Public Finance Short Type Questions and Answers

Questions

1 These are principles of taxation:

A Principle of equality

B Principle of certainty

C Principle of secrecy

D Both (a) & (b)

View Answer

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

View Answer

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

View Answer

Answer:Personal income tax

4 Govt. taxing and spending policies are called:

A Monetary policy

B Fiscal policy

C Commercial policy

D Finance policy

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer

Answer:Ministry of Finance

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