taxes types, methods & budgeting process section 5 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 11 [CDS-2013-II]

Corporation tax is imposed by

a) Local Government

b) State Government

c) Central Government

d) State as well as Central Government

Question : 12 [UPPCS (Pre) 2013]

Which one of the following is not a tax/duty levied by the Government of India?

a) Education Cess

b) Custom Duty

c) Service Tax

d) Toll Tax

Question : 13

Surplus reserve of RBI transferred to Government of India (GOI) will come under which of the following?

a) Non-tax revenue receipts

b) Non-debt capital receipts

c) Market borrowings and other liabilities

d) Debt receipts

Question : 14

The term ‘Crowd-in’ in the economy is related to which of the following?

1. Targeted government spending acts as an engine of growth in the short run
2. Government spending complements the private investment
3. Government spending substitutes the private investment
4. Government spending boosts demand for goods which in turn increases private demand

a) (i) & (iii) only

b) (i), (ii) & (iv) only

c) (i) & (ii) only

d) (i), (iii) & (iv) only

Question : 15

Consider the following statements regarding the presentation of the Budget in the Parliament:

1. Finance Bill is introduced on the very first day when the Finance Minister presents Budget in the Parliament
2. Appropriation Bill is introduced after the voting on demand for grants is over

a) (ii) only

b) Both (i) & (ii)

c) (i) only

d) Neither (i) nor (ii)