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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
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 13 "Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test"
Try The MCQ's Test For Chapter 13 "Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test
00:00
Question # 1
Public finance and private finance are of each other
Question # 2
The expected rate of profit from a business is known as:
Question # 3
At last, indirect tax is paid by
Question # 4
"Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures"
"Public finance deals with governments revenue and expenditure and it studies how government maintains balance between its revenue and expenditures"
This definition is stead by
Question # 5
The ratio of change in investment to change in income is known as:
Question # 6
Adam Smith presented the basic canons of taxation
Question # 7
If the rate of tax does not change with decrease or increase in the level of income, is called
Question # 8
If income of the government is more than its expenditures, such budget is called
Question # 9
Usher is levied on
Question # 10
The revenue collection of government and spending policy is called
Question # 11
Phases of trade cycle are:
Question # 12
Which one of the following stated the canons of taxation first
Question # 13
A good thing in public finance
Question # 14
Private owners of minerals are bound to pay --------- Zakat of their production
Question # 15
The average duration of trade cycle is:
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.
Top Scorers Of Chapter 13 "Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test" MCQ`s Test
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M Minahil Asif 03 - Jun - 2024 01 Min 45 Sec 14/15 -
A Aliya hassan 06 - Dec - 2020 01 Min 55 Sec 14/15 -
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T Tanzila Tahir 01 - Nov - 2023 02 Min 17 Sec 11/15 -
T Tehmina Erum 26 - Jul - 2021 02 Min 56 Sec 11/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 13 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | One of the following is not included in the sources of public revenue |
A. Tax
B. Fee
C. Defence
D. Fines
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| 2 | Which one of the following is indirect tax |
A. Income tax
B. Property tax
C. Wealth tax
D. Sales tax
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| 3 | Government estimates its income and expenditures |
A. Monthly
B. Three monthly
C. Six monthly
D. Annual
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| 4 | Private individuals are not allowed to fullfil their needs |
A. To get loans from the friends
B. To get financial help from the relatives
C. To get loans from the domestic financial institutions
D. To print notes
|
| 5 | If everybody pays tax according to his financial position, it is said |
A. canon of convenience
B. canon of Equality
C. canon of Economy
D. canon of simplicity
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| 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 | The interaction of multiplier and accelerator is known as: |
A. Innovation theory
B. Modern theory
C. Psychological theory
D. Over investment theory
|
| 8 | Private individuals can get loan from |
A. Their relatives, friends and domestic financial institutions
B. Foreign financial agencies
C. Foreign government
D. International financial institutions
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| 9 | The tax whose burden can be shifted to the customers, is called |
A. Proportional tax
B. Progressive tax
C. Direct tax
D. Indirect tax
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| 10 | Private owners of minerals are bound to pay --------- Zakat of their production |
A. 10%
B. 15%
C. 20%
D. 25%
|
Test Questions
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