What is the period of a fiscal year?
  • 1 April to 31 March
  • 1 January to 31 December
  • 1 March to 28 February
  • None of these
When government spends more than it collects by way of revenue, it incurs ______
  • Budget surplus
  • Budget deficit
  • Capital expenditure
  • Revenue expenditure
The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______
  • Interest
  • Taxes
  • Spending
  • Borrowings
Which of the following is the component of a budget?
  • Fiscal budget
  • Capital budget
  • Both of these
  • None of these
What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?
  • Budget
  • Fiscal Budget
  • Capital Budget
  • All of these
How many types of revenue receipts are there?
  • 2
  • 3
  • 4
  • 6
The amount collected by the government as taxes and duties is known as _______
  • Capital receipts
  • Tax revenue receipts
  • Non-tax revenue receipts
  • All of these
The amount collected by the government in the form of interest, fees, and dividends is known as ________
  • Tax-revenue receipts
  • Capital receipts
  • Non-tax revenue receipts
  • None of these
Borrowing in the government budget is:
  • Revenue deficit
  • Fiscal deficit
  • Primary deficit
  • Deficit in taxes
The non-tax revenue in the following is:
  • Export duty
  • Import duty
  • Dividends
  • Excise
The primary deficit in a government budget will be zero, when _______
  • Revenue deficit is zero
  • Net interest payments are zero
  • Fiscal deficit is zero
  • Fiscal deficit is equal to interest payment
Direct tax is called direct because it is collected directly from:
  • The producers on goods produced
  • The sellers on goods sold
  • The buyers of goods
  • The income earners
Financial Year in India is:
  • April I to March 31
  • January 1 to December 31
  • October 1 to September 30
  • None of the above
Which objectives government attempts to obtain by Budget
  • To Promote Economic Development
  • Balanced Regional Development
  • Redistribution of Income and Wealth
  • All the above
Which is a component of Budget?
  • Budget Receipts
  • Budget Expenditure
  • Both (a) and (b)
  • None of the above
Which is a component of the Budget Receipt?
  • Revenue Receipt
  • Capital Receipt
  • Both (a) and (b)
  • None of the above
Tax revenue of the Government includes :
  • Income Tax
  • Corporate Tax
  • Excise Duty
  • All of these
Which is included in the Direct Tax?
  • Income Tax
  • Gift Tax
  • Both (a) and (b)
  • Excise Duty
Which is included in Indirect Tax?
  • Excise Duty
  • Sales Tax
  • Both (a) and (b)
  • Wealth Tax
The expenditures which do not create assets for the government is called :
  • Revenue Expenditure
  • Capital Expenditure
  • Both (a) and (b)
  • None of the above
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