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11th Principle of Economics Chapter 13 Test

Here you can prepare 11th Principle of Economics English Medium Chapter 13 Public Finance and Zakat Test. Click the button for 100% free full practice test.

First Year Principles of Economics Chapter 13 Online MCQ Test for 1st Year Principles of Economics Chapter 13 (Public Finance and Zakat)

This online test contains MCQs about following topics:

. Definition and meaning of public finance . Canons of taxation . Sources of public revenue . Heads of public expenditure . Kinds of taxes . Zakat and usher . Important opints of definition of zakat

ICOM Part 1 Economics Ch 13 Test
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First Year Principles of Economics Chapter 13 Online MCQ Test for 1st Year Principles of Economics Chapter 13 (Public Finance and Zakat)

Sr. # Questions Answers Choice
1 Annual rate of Zakat on cash and trading goods is
  • A. 2.0%
  • B. 2,5%
  • C. 3.0%
  • D. 3.5%
2 "Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures"<br>This definition is stead by
  • A. Dalton
  • B. Armitage Smith
  • C. Bastable
  • D. pigou
3 The percentage part of the mineral production is payable as Zakat on private owners of minerals
  • A. 5%
  • B. 10%
  • C. 15%
  • D. 20%
4 Trade cycles can be controlled by:
  • A. Fiscal policy
  • B. Monetary policy
  • C. Buffer stock schemes
  • D. All of these
5 The tax which is levied on the sale of goods is called
  • A. Income tax
  • B. Property tax
  • C. Gift tax
  • D. Sales tax
6 If income of government is more than its expenditures, then it is a
  • A. Surplus budget
  • B. Deficit budget
  • C. Development budget
  • D. Balanced budget
7 In which year international monetary fund was established:
  • A. 1941
  • B. 1944
  • C. 1945
  • D. 1947
8 The salient features of trade cycle are:
  • A. National in nature
  • B. International in nature
  • C. Domestic in nature
  • D. All of these
9 "Public finance is that branch of economics which studies the revenue and expenditures of governments institutions, their inter-relationship and financial administration"<br>This definition is stated by
  • A. Bastable
  • B. Armitage Smith
  • C. Marshall
  • D. Pigou
10 A good thing in public finance
  • A. Expenditures are more than income
  • B. Income is more than expenditure
  • C. Income is equal to expenditure
  • D. b and c both

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