Question # 1

Adam Smith presented the basic canons of taxation

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Two

Three

Four

Five

Public finance and private finance are of each other

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Opposite

Synonymous

Similar & different

None of three

Which one of the following public expenditures is related to transport

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Police

Defence

Railway

Public education

If the rate of tax does not change with decrease or increase in the level of income, is called

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Proportional tax

Progressive tax

Regressive tax

value added tax

If the income and expenditures of the government are equal, such budget is called

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Surplus budget

Deficit budget

Balanced budget

Capital budget

Zakat can not be given

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to get slaves free

To the collection of zakat

For the construction of Mosque

The converts

The percentage part of the agricultural produce is payable as Zakat which is irrigated by artificial sources

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5%

10%

15%

20%

If income of government is less than its expenditures, then it is a

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Surplus budget

Deficit budget

Development budget

Balanced budget

Indirect taxes become cause of

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Increase in prices

Decrease in prices

Stability of prices

Change in prices

The percentage part of the mineral production is payable as Zakat on private owners of minerals

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5%

10%

15%

20%

Private individuals are not allowed to fullfil their needs

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To get loans from the friends

To get financial help from the relatives

To get loans from the domestic financial institutions

To print notes

On which amount Zakat is payable

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Twenty thousand rupees

On the amount equal to the value of 7.5 tola gold or 52.5 tola silver

On fifty thousand rupees

On one lac rupees

Over investment and over saving theory was given by:

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Joseph Schumpeter

Habson Foster

Jevons

Hawtray

Kinds of public expenditures are

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Two

Three

Four

Five

Government estimates its income and expenditures

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Monthly

Three monthly

Six monthly

Annual

What type of nature of Zakat is

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Fixed

Non fixed

Elastic

Changes along with the change in income

If the income of the government is less than its expenditures, such budget is called

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Surplus budget

Deficit budget

Balanced budget

Capital budget

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Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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