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B Com Exam  >  B Com Tests  >  Test: Public Revenue - B Com MCQ

Test: Public Revenue - B Com MCQ


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10 Questions MCQ Test - Test: Public Revenue

Test: Public Revenue for B Com 2024 is part of B Com preparation. The Test: Public Revenue questions and answers have been prepared according to the B Com exam syllabus.The Test: Public Revenue MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Public Revenue below.
Solutions of Test: Public Revenue questions in English are available as part of our course for B Com & Test: Public Revenue solutions in Hindi for B Com course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Public Revenue | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study for B Com Exam | Download free PDF with solutions
Test: Public Revenue - Question 1
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What is the primary purpose of taxation?

Detailed Solution for Test: Public Revenue - Question 1
The primary purpose of taxation is to provide funds for the government to finance its appropriate functions and protect the general welfare of its citizens.
Test: Public Revenue - Question 2
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Which of the following is an example of an indirect tax?

Detailed Solution for Test: Public Revenue - Question 2
Sales tax is an example of an indirect tax, as its burden can be shifted to consumers through higher prices of commodities.
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Test: Public Revenue - Question 3
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What characteristic distinguishes a direct tax from an indirect tax?

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The key distinction between direct and indirect taxes is that the burden of direct taxes cannot be shifted, whereas the burden of indirect taxes can be passed on to others.
Test: Public Revenue - Question 4
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Which type of tax is based on the value of the taxed item?
Detailed Solution for Test: Public Revenue - Question 4
An ad-valorem tax is based on the value of the taxed item, while a specific tax is levied per unit of the item.
Test: Public Revenue - Question 5
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In a progressive tax system, as the income increases, the:
Detailed Solution for Test: Public Revenue - Question 5
In a progressive tax system, the tax rate increases as the income level increases, leading to a higher tax burden on higher incomes.
Test: Public Revenue - Question 6
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Which type of tax is characterized by a fixed rate regardless of the tax base?
Detailed Solution for Test: Public Revenue - Question 6
A proportional tax has a fixed rate regardless of the tax base, resulting in a consistent tax burden relative to income or wealth.
Test: Public Revenue - Question 7
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What is the main difference between a tax and a fee?
Detailed Solution for Test: Public Revenue - Question 7
Unlike fees, taxes do not have a direct quid pro quo relationship between the taxpayer and the public authority.
Test: Public Revenue - Question 8
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Which type of tax can be shifted from the initial taxpayer to others?
Detailed Solution for Test: Public Revenue - Question 8
Indirect taxes can be shifted from the initial taxpayer to others, allowing the burden to be passed on.
Test: Public Revenue - Question 9
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Which revenue source is characterized by individuals offering funds voluntarily in times of emergency?
Detailed Solution for Test: Public Revenue - Question 9
Individuals may offer gifts and grants to the government, especially in times of emergency, to address abnormal situations.
Test: Public Revenue - Question 10
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What is the primary purpose of a budget deficit?
Detailed Solution for Test: Public Revenue - Question 10
A budget deficit is used to finance government expenditure when government spending exceeds revenue collected through various sources.
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