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Class 12 Economics
Government Budget And The Economy
Quiz 1
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What is the period of a fiscal year?
0%
1 April to 31 March
0%
1 January to 31 December
0%
1 March to 28 February
0%
None of these
Explanation
1 April to 31 March
When government spends more than it collects by way of revenue, it incurs ______
0%
Budget surplus
0%
Budget deficit
0%
Capital expenditure
0%
Revenue expenditure
Explanation
Budget deficit
The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______
0%
Interest
0%
Taxes
0%
Spending
0%
Borrowings
Explanation
Borrowings
Which of the following is the component of a budget?
0%
Fiscal budget
0%
Capital budget
0%
Both of these
0%
None of these
Explanation
Both of these
What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?
0%
Budget
0%
Fiscal Budget
0%
Capital Budget
0%
All of these
Explanation
Fiscal Budget
How many types of revenue receipts are there?
0%
2
0%
3
0%
4
0%
6
Explanation
2
The amount collected by the government as taxes and duties is known as _______
0%
Capital receipts
0%
Tax revenue receipts
0%
Non-tax revenue receipts
0%
All of these
Explanation
Tax revenue receipts
The amount collected by the government in the form of interest, fees, and dividends is known as ________
0%
Tax-revenue receipts
0%
Capital receipts
0%
Non-tax revenue receipts
0%
None of these
Explanation
Non-tax revenue receipts
Borrowing in the government budget is:
0%
Revenue deficit
0%
Fiscal deficit
0%
Primary deficit
0%
Deficit in taxes
Explanation
Fiscal deficit
The non-tax revenue in the following is:
0%
Export duty
0%
Import duty
0%
Dividends
0%
Excise
Explanation
Dividends
The primary deficit in a government budget will be zero, when _______
0%
Revenue deficit is zero
0%
Net interest payments are zero
0%
Fiscal deficit is zero
0%
Fiscal deficit is equal to interest payment
Explanation
Fiscal deficit is equal to interest payment
Direct tax is called direct because it is collected directly from:
0%
The producers on goods produced
0%
The sellers on goods sold
0%
The buyers of goods
0%
The income earners
Explanation
The income earners
Financial Year in India is:
0%
April I to March 31
0%
January 1 to December 31
0%
October 1 to September 30
0%
None of the above
Explanation
April I to March 31
Which objectives government attempts to obtain by Budget
0%
To Promote Economic Development
0%
Balanced Regional Development
0%
Redistribution of Income and Wealth
0%
All the above
Explanation
All the above
Which is a component of Budget?
0%
Budget Receipts
0%
Budget Expenditure
0%
Both (a) and (b)
0%
None of the above
Explanation
Both (a) and (b)
Which is a component of the Budget Receipt?
0%
Revenue Receipt
0%
Capital Receipt
0%
Both (a) and (b)
0%
None of the above
Explanation
Both (a) and (b)
Tax revenue of the Government includes :
0%
Income Tax
0%
Corporate Tax
0%
Excise Duty
0%
All of these
Explanation
All of these
Which is included in the Direct Tax?
0%
Income Tax
0%
Gift Tax
0%
Both (a) and (b)
0%
Excise Duty
Explanation
Both (a) and (b)
Which is included in Indirect Tax?
0%
Excise Duty
0%
Sales Tax
0%
Both (a) and (b)
0%
Wealth Tax
Explanation
Both (a) and (b)
The expenditures which do not create assets for the government is called :
0%
Revenue Expenditure
0%
Capital Expenditure
0%
Both (a) and (b)
0%
None of the above
Explanation
Revenue Expenditure
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