Description : When there is a difference between all receipts and expenditure of the Government of India both capital and revenue it is called __________ A. Revenue Deficit B. Budgetary Deficit C. Zero Budgeting D. Trade Gap E. Balance of Payment Problem
Last Answer : B. Budgetary Deficit Explanation: Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.If revenue expenses of the government ... leads to capital account deficit. Budgetary deficit is usually expressed as a percentage of GDP.
Description : The sale proceeds of Government Bonds come under the budget head of - (1) Revenue Receipts (2) Current Expenditure (3) Capital Outlay (4) Capital Receipts
Last Answer : (4) Capital Receipts Explanation: Capital receipts are the funds received into the businesses that are not part of the operating activities of the establishment. Capital receipts primarily include external ... furniture, investment (long term) etc., which shall not be occurring all the time.
Description : The sale proceeds of Government Bonds come under the budget head of (1) Revenue Receipts (2) Current Expenditure (3) Capital Outlay (4) Capital Receipts
Last Answer : Capital Receipts
Description : When there is a difference between all receipts and expenditure of the Govt. of India, both capital and revenue it is called _______ A. Income Deficit B. Fiscal Deficit C. Budgetary Deficit D. None of the Above
Last Answer : C. Budgetary Deficit Explanation: A budget deficit occurs whenever a government spends more than it makes, which is nearly every year.Budgetary deficit is the difference between all receipts and expenses in both revenue and capital account of the government.
Description : In the Union Budget, profits from public sector undertakings are taken under (a) Revenue receipts ; (b) Capital receipts (c) Monetized receipts ; (d) Planned expenditure
Last Answer : (a) Revenue receipts
Description : ………………… is the personal income minus personal income tax and miscellaneous receipts of Government administrative departments. (a) Surplus income ; (b) Disposal income ; (c) Expendable income ; (d) Residual income
Last Answer : (b) Disposal income ;
Description : Gross Profit means - (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure
Last Answer : (4) Total receipts over total expenditure Explanation: In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service, before deducting ... . Gross profit = Net sales (total receipts) - Cost of goods sold (total expenditure).
Description : Gross Profit means (1) Total investment over total saving (2) Changes in methods of production (3) Changes in the form of business organisation (4) Total receipts over total expenditure
Last Answer : Total receipts over total expenditure
Description : Personal Income' equals - (1) The household sector's in-come (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above
Last Answer : (3) Personal disposable income plus miscellaneous receipts of the Goverment Explanation: Disposable income is total personal income minus personal current taxes (or plus receipts of the government). ... category of personal (or, private) consumption expenditure) yields personal (or, private) savings
Description : ‘Personal Income’ equals (1) The household sector’s income (2) Private income minus savings of the corporate sector minus corporation tax (3) Personal disposable income plus miscellaneous receipts of the Goverment (4) All of the above
Last Answer : Personal disposable income plus miscellaneous receipts of the Goverment
Description : While computing the actual cost of any asset falling within a block, portion of cost of asset which has been met directly by the central government or a state government or any authority under any law ... price b) Subtracted from purchase price c) Added to WDV d) Claimed as Revenue Expenditure
Last Answer : b) Subtracted from purchase price
Description : Revenue expenditure is ____________ in nature. (a) capital (b) outstanding (c) recurring (d) contingent
Last Answer : Revenue expenditure is ____________ in nature. (a) capital (b) outstanding (c) recurring (d) contingent
Description : What is the renewal fees paid for a patent right ? (A) Capital expenditure (B) Revenue expenditure (C) Deferred revenue expenditure (D) Development expenditure
Last Answer : Answer: Revenue expenditure
Description : A large amount spent on special advertisement is– (A) Capital Expenditure (B) Revenue Expenditure (C) Revenue Loss (D) Deferred Revenue Expenditure
Last Answer : Answer: Deferred Revenue Expenditure
Description : The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation
Last Answer : (4) capital depreciation Explanation: Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of ... equal to capital depreciation. It is the wearing out, breaking down, or technological obsolescence.
Description : substantial increase in capital expenditure or revenue deficit leads to —
Last Answer : Fiscal deficit
Description : The concept which tries to ascertain the actual deficit in the revenue account after adjusting for expenditure of capital nature is termed as?
Last Answer : Effective revenue deficit
Description : Amount spent to increasing the earning capacity is a ______ expenditure a) Capital b) Revenue c) Deferred revenue d) Capital Loss
Last Answer : a) Capital
Description : Deewali advance given to an employee is a) Revenue Expenditure b) Capital Expenditure c) Deferred Revenue Expenditure d) Not an Expenditure
Last Answer : d) Not an Expenditure
Description : Amount spent on an advertisement campaign, the benefit of which is likely to last for three years is a A. Capital expenditure B. Revenue expenditure C. Deferred revenue expenditure D. None of the above
Last Answer : C. Deferred revenue expenditure
Description : The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation
Last Answer : capital depreciation
Description : Which of the following doesn't appear on the liabilities side of the balance sheet ? 1. Capital 2. Loans 3. Advertisement expenditure 4. Share capital 5. None of these
Last Answer : Advertisement expenditure
Description : Donations received for the special purpose will be taken to the– (A) Income and Expenditure Account (B) Assets side of the Balance Sheet (C) Liabilities side of the Balance Sheet (D) Receipts and Payments Account
Last Answer : Answer: Liabilities side of the Balance Sheet
Description : Wagner’s hypothesis is associated with (a) Public receipts (b) Public expenditure (c) Supply of money (d) Public debt
Last Answer : (b) Public expenditure
Description : A situation where the expenditure of the government exceeds its revenue is called
Last Answer : Budget deficit
Description : Laffer curve is related to (a) Tax rate and tax revenue. (b) Aggregate tax and aggregate non-tax revenue. (c) Total tax burden and total payment burden. (d) Total income and total expenditure.
Last Answer : (c) Total tax burden and total payment burden.
Description : A _________ occurs when a government's total expenditure exceed the revenue that it generates, excluding money from borrowings.
Description : Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments
Last Answer : (3) Loans Explanation: Loans are not included in the current revenue of the Union Government.
Description : Which one of the following is not included in current revenue of the Union Government ? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) Interest payments
Last Answer : Loans
Description : (i) Heavy expenditure on advertising is deferred revenue expenditure.
Last Answer : Do you agree or disagree with the following statement : (i) Heavy expenditure on advertising is deferred ... has two effects i.e. debit and credit.
Description : Fiscal policy is concerned with which of the following? A. Public revenue and Expenditure B. Issue of Currency C. Export Import D. Population Control E. Education for all
Last Answer : A. Public revenue and Expenditure Explanation: Fiscal policy is the policy relating to government revenues from taxes and expenditure on various projects. Monetary Policy, on the other hand, is mainly concerned with the flow of money in the economy.
Description : As per accrual concept, which of the followings is not true a) revenue –expenditure = profit b) revenue –profit = expenditure c) sales + gross profit = revenue d) revenue = profit + expenditure
Last Answer : c) sales + gross profit = revenue
Description : Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.
Last Answer : B. Wages paid for the erection of plant and machinery.
Description : Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.
Last Answer : D. Depreciation on fixed assets.
Description : While Computing the actual cost of any asset falling within a block, direct cost attributable to bring the asset to its present location and working condition for its intended use(i.e. expenses incurred ... from the purchase price c) Be subtracted from WDV d) Be claimed as revenue expenditure
Last Answer : b) Be subtracted from the purchase price
Description : Deficit financing implies : A. printing new currency notes B. public revenue in excess of public expenditure C. public expenditure in excess of public revenue D. replacing new currency with worn out currency
Last Answer : C. public expenditure in excess of public revenue
Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.
Last Answer : (b) Decreases the value of the expenditure and net tax revenue multiplier;
Description : GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize
Last Answer : (b) Exports minus imports ;
Description : Investment is equal to : (1) gross total of all types of physical capital assets (2) gross total of all capital assets minus wear and tear (3) stock of plants, machines and equipments (4) None of the above
Last Answer : (2) gross total of all capital assets minus wear and tear Explanation: Capital formation is frequently thought of as a measure of total "investment", in the sense of that portion of ... concept that includes investment in all kinds of capital assets, whether physical property or financial assets.
Description : Investment is equal to - (1) gross total of all types of physical capital assets (2) gross total of all capital assets minus wear and tear (3) stock of plants, machines and equipments (4) None of these
Last Answer : (2) gross total of all capital assets minus wear and tear Explanation: Investment" is a broader concept that includes investment in all kinds of capital assets, whether physical property or financial assets. In ... out the loss in capital value of assets used due to wear & tear, obsolescence, etc.
Description : Net working capital refers to A. total assets minus fixed assets B. current assets minus current liabilities C. current assets minus inventories D. current
Last Answer : B. current assets minus current liabilities
Description : To financial analysts, "working capital" means the same thing as . A. Total assets B. fixed assets C. current assets D. current assets minus current liabilities.
Last Answer : C. current assets
Description : Net Assets minus Capital Reserve is _________ (A) Goodwill (B) Total assets (C) Purchase consideration (D) None of these
Last Answer : (C) Purchase consideration
Description : Net capital employed is equal to --------------- a) Total assets minus liabilities b) Fixed asset plus net working capital c) Total asset minus long-term liabilities d) Total assets
Last Answer : b) Fixed asset plus net working capital
Last Answer : gross total of all capital assets minus wear and tear
Description : Capital receipts include :
Last Answer : Capital receipts include : A. Tax Revenue B. Non - tax Revenue C. Grants from World Bank D. Borrowings
Description : In the balance of payments account, unrequited receipts and payments are also regarded as - (1) bilateral transfers (2) unilateral transfers (3) capital account transfers (4) invisible transfers
Last Answer : (2) unilateral transfers Explanation: Unrequited receipts and payments are also regarded as unilateral transfers as the flow is only in one direction with no automatic reverse flow in the other ... borrowings nor lending, but gifts and grants exchanged between governments and people in the world.
Description : All capital expenditures and receipts are taken to A. Trading and Profit and Loss Account B. Balance sheet C. Trial balance D. None of the above
Last Answer : B. Balance sheet
Description : Capital receipts under head “PGBP” shall be ………… a) Added to income b) Deducted from income c) Shall not take in to account d) Shown as separate line item
Last Answer : ICDS-3 is applicable for-