Chapter 7: Public Finance Quiz

CA Foundation Chapter 7 Public Finance Quiz 1

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Which of the following is a union tax?

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Consider the following statements and identify the right ones.
i. Wealth tax is collected from productive as well as unproductive assets
ii. Estate duty was a type of inheritance tax of large estates

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The tax on net income of companies is

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The tax levied by the union government on income of individuals is known as

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Consider the following statements and identify the right ones.
i. Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.
ii. The constitution also provides for transferring certain tax revenues from union list to states.

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Which of the following is not a union tax?

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The difference between revenue expenditure and revenue receipts is

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Consider the following statements and identify the right ones.
i. The 14th finance commission is headed by C. Rangarajan
ii. The recommendations of the commission will come into effect from April, 1, 2015

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The tax levied on the interstate trade of goods is

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The most important source of revenue to the states is

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Which of the following taxes is/are withdrawn or abolished?

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A progressive income tax implies that

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The difference between fiscal deficit and interest payment during the year is called

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The difference between total expenditure and total receipts except loans and other liabilities is called

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The difference between total expenditure and total receipts is

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The difference between revenue deficit and grants for creation of capital assets is called

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Tobin tax is tax on

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Which of the following canon of taxation is given by Adam Smith

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Repayment of public debt refers to

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If with the increases in income, the percentage of income collected as tax remains constant, tax will be called,

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A forward-shifted tax will affect

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In case of deficit budget, when the deficits are covered through taxes, that budget is called:

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Expenditure tax was introduced in India as per the recommendation of ……………..

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Wealth tax abolished in

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According to Wiseman and peacock, public expenditure will increase in a

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CA Foundation Chapter 7 Public Finance Quiz 2

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Canons of budgeting was given by

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With a regressive tax, as income

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Which committee recommended tax on agriculture holding in India

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The ability to pay principlt of taxation is logically most consistent with the normative notion of

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The greater the elasitcity of supply, the greater is:

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Concept of concentration and displacement effect in public expenditure are attributed to:

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The Coase theoram has problems because

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Positive Economics

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Agriculture income tax is a source of revenue to

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Justice taxation is best ensured by applying the principle of

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The principle of maximum social advantage is concerned with

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Market Failure can occure  when

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The economic incidence of a unit tax

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The frist fundamental theoram of Welfare Economics requires

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The slope of the production possibilities curve is the

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The marginal rate of subsititution is

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Market Mechanisms are Unlikely to provide

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The economic theory of optimal health care provision says that

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Which source a private company cannot use?

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Movement from an inefficient allocation to an efficient allocation in the edge worth Box will

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A public good is

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The economic incidence of a unit tax is

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Externalities can be positive because

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A Pigouvian Subsidy

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Which method can help in obtaining a welfare improvement if externalities exist

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CA Foundation Chapter 7 Public Finance Quiz 3

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Marginal Damages

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An ad valorem tax is

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Statutory incidence of a tax deals with

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Social Insurance can be justified on the grounds of

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A Fully Funded Social Security Plan requires

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In a public goods context, it is difficult to measure impact on real income because

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According to many thinkers, ability to Pay theory is based on which theory on which theory?

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In the public finance, the government income has the same place which is gained by …………. in study of economy.

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For goods that are unrelated in consumption, efficiency requires that tax rates be inversely proportional to elasiticities. This is the definition of

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If the proceeds from a pigouvian tax are used to income tax rates, then efficiency in both markets

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Lumpsum taxes

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The functionn of public finance is called the function of…………

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Adam Smith wrote about function of state in ……… in his book ‘Wealth of Nations’.

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The differnce between total expenditure and total receipts is………..

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Public Finance is related with the income and ……… of Public Government

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How the government can meet its expenditure;

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Which of the following is a union tax?

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How many basic principles are there which guide government in financial operations?

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Where, there is only taxation is taken then what will be the effect on production due to it?

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Which of the following is not a union tax?

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The principle of Public Finance is also called the principal of………….

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When the Government spends money then there is some increment in…..

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The tax levied by the union government on income of individuals is known as

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The tax on net income of companies is

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The tax on net income of companies is

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CA Foundation Chapter 7 Public Finance Quiz 4

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All type of income received to government is called …………. income

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The tax levied on the interstate trade of goods is

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The most important source of revenue to the states is………..

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Which of the following taxes is/are withdrawn or abolished ?

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Shifting of tax depends on ……… of goods

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…………. is that process in which taxpayer tries to shift burden of tax on others.

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The government Collect funds from

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The difference between revenue deficit and grants for creation of capital assets is called

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Whatever less income a section has, if the ratio of benefit from public expenditure is that much more thwn will it called?

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In which expenditure, the benefit also increases with the increase in income?

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The expenditure must be so that it increases………..

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Government budget is balanced when

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Government Taxing and spending policies are called:

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These are principle of taxation:

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The word is ………. is used normally for Government or state

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Progressive taxes

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Who propounded principles of taxtation

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Audit of State Government is-

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In the time of emergency from which sources the government take debt?

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Which operation is considered government borrowing by modern economist?

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Government finance is called

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