Assertion (A): Strategic sale of BPCL, IDBI Bank, Air India to be completed in the next fiscal year.
Reason (R): Strategic sales gives revenue to the government..
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Higher Taxes leads to an increase in the revenue of the government.
Reason (R): Corporate Tax is levied on the earnings of the people.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): The government budget is an annual estimated statement of revenue and expenditure during the coming fiscal year.
Reason (R): Through the government budget, it tries to reduce the regional variations.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Repayment of loans by the government is the capital expenditure of the government.
Reason (R): Capital expenditure of government leads to the creation of assets or reduction in liabilities.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Personal income tax and corporation tax are indirect taxes.
Reason (R): The liability to pay and burden of an indirect tax lie on different persons/entities.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Revenue deficit is a part of fiscal deficit.
Reason (R): Fiscal deficit = Revenue deficit – capital expenditure + Non debt creating capital receipts..
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Profits of public sector undertakings is revenue receipt.
Reason (R): Revenue Receipts are regular and recurring in nature.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Government budget is an annual statement showing actual receipts and actual payments of the government for the last fiscal year.
Reason (R): The government budget is an important fiscal policy instrument of the government.
Alternatives:
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Dividend received on investment is the revenue receipt of government.
Reason (R): Revenue receipts neither reduce/increase liabilities nor create/reduce assets.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.

Assertion (A): Tax is the main source of government revenue that is used to provide subsidies to the poor at concessional prices, therefore those who pay tax should not use government services.
Reason (R): Public goods are non-exclusive and non-rival in consumption.
a) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
c) Assertion (A) is true but Reason (R) is False
d) Assertion (A) is False but Reason (R) is true.