The final burden of _______ cannot be shifted to others.

1. direct tax
2. indirect tax
3. Both (a) and (b)
4. Neither (a) nor (b)

The government starts selling its securities to private sector. What is this process called?

1. Open market operation.
2. Disinvestment.
3. Monetary expansion.
4. None of these.

Which out of the following is an indirect tax?

1. Corporation tax.
2. Value Added Tax.
3. Income Tax.
4. Wealth Tax.

Borrowing in government budget is: (choose the correct alternative)

1. Revenue deficit.
2. Fiscal deficit.
3. Primary deficit.
4. Deficit in taxes.

Which of the following statement is not correct?

1. Dividends on investment made by government is a revenue receipt.
2. Borrowing from public is a capital receipt.
3. Subsidy on diesel oil for cars is a wasteful expenditure by the government.
4. Non-plan expenditure does not contribute to social welfare.

Which objective of government budget increases equality in the society?

1. Re-distribution of income and wealth.
2. Economic stability.
3. Allocation of resources.
4. Economic growth.

Pension payment is an example of:

1. Plan Expenditure.
2. Revenue Expenditure.
3. Capital Expenditure.
4. Non-Plan Expenditure.

Budget is a:

1. Financial statement.
2. Monetary statement.
3. Political statement.
4. All of them.

A Government budget is prepared for a fiscal year running from:

1. 1st January to 31st December.
2. 1st April to 31st December.
3. 1st April to 31st March.
4. 1st January to 30th April.

Primary deficit equals: (Choose the correct alternative)

1. Borrowings.
2. Interest payments.
3. Borrowings less interest payments.
4. Borrowings and interest payments both.