12th Grade > Economics - 2
UNDERSTANDING THE BUDGET MCQs
Total Questions : 27
| Page 3 of 3 pages
Answer: Option D. -> Wealth tax and Income tax
:
D
Wealth tax and income tax is a combination of direct taxes. Other options consist of direct tax and indirect tax.
:
D
Wealth tax and income tax is a combination of direct taxes. Other options consist of direct tax and indirect tax.
Answer: Option D. -> The income earners
:
D
The direct tax is collected directly from the income earners.
:
D
The direct tax is collected directly from the income earners.
Answer: Option C. -> Donations
:
C
Non-tax revenue or non-tax receipts refer to the government revenues which are not generated from taxes. Out of the given options, the donation is a non-tax receipt.
:
C
Non-tax revenue or non-tax receipts refer to the government revenues which are not generated from taxes. Out of the given options, the donation is a non-tax receipt.
Answer: Option A. -> Recovery of loans
:
A
Recovery of loanseither create a liability or cause a reduction in the assets of the government. Therefore, they are capital receipts. Other options are revenue receipts.
:
A
Recovery of loanseither create a liability or cause a reduction in the assets of the government. Therefore, they are capital receipts. Other options are revenue receipts.
Answer: Option A. -> Corporate tax
:
A
Corporate tax is a direct tax. Entertainment tax, excise duty and service tax are indirect taxes.
:
A
Corporate tax is a direct tax. Entertainment tax, excise duty and service tax are indirect taxes.
Answer: Option C. -> Disinvestment
:
C
The receipts obtained from the sale of shares in Public Sector Undertakings is referred to as disinvestment. It is a source of capital receipt.
:
C
The receipts obtained from the sale of shares in Public Sector Undertakings is referred to as disinvestment. It is a source of capital receipt.
Answer: Option B. -> Non-Plan Capital Expenditure
:
B
Economic services of Railway and Postal Services provided by the government are covered by Non-Plan Capital Expenditure.
:
B
Economic services of Railway and Postal Services provided by the government are covered by Non-Plan Capital Expenditure.
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