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11. |
These are principles of taxation: |
A. |
Principle of equality |
B. |
Principle of certainty |
C. |
Principle of secrecy |
D. |
Both (a) & (b) |
Answer: Option D
Explanation:
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12. |
In Pakistan, taxes are levied by: |
A. |
Prime minister of Pakistan |
B. |
President of Pakistan |
C. |
Federal cabinet of ministers |
D. |
National assembly |
Answer: Option D
Explanation:
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13. |
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: Option D
Explanation:
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14. |
Govt. taxing and spending policies are called: |
A. |
Monetary policy |
B. |
Fiscal policy |
C. |
Commercial policy |
D. |
Finance policy |
Answer: Option B
Explanation:
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15. |
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: Option C
Explanation:
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16. |
Government finance is called: |
A. |
National finance |
B. |
Public finance |
C. |
Private finance |
D. |
(a) and (b) of above |
Answer: Option B
Explanation:
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17. |
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: Option D
Explanation:
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18. |
The government can collect funds from: |
A. |
Taxes |
B. |
Fees |
C. |
Prices of public goods |
D. |
All the three |
Answer: Option D
Explanation:
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19. |
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: Option D
Explanation:
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20. |
In Pakistan government budget is prepared by: |
A. |
National Assembly |
B. |
President of Pakistan |
C. |
Ministry of Finance |
D. |
State Bank of Pakistan |
Answer: Option C
Explanation:
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