Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.
Last Answer : (1) there is not direct relationship between the tax payer and the government. Explanation: The term indirect tax has more than one meaning. In the colloquial sense, an indirect tax (such as ... which is collected directly by government from the persons (legal or natural) on which it is imposed.
Last Answer : there is not direct relationship between the tax payer and the government.
Description : )The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into - (1) codification of tax laws (2) the entire structure of tax ... generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system
Last Answer : (4) aspects of generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system Explanation: The Central Board of Direct Taxes (CBDT) ... steps to prevent generation of illicit funds through transactions in property, bullion and equity market.
Description : Under progressive taxation, the real value of tax on a given level of real income : (a) decreases under inflation (b) rises under depression (c) rises under inflation (d) remains unchanged under inflation
Last Answer : (c) rises under inflation
Description : The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into - (1) codification of tax laws (2) the entire structure of tax ... generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system
Last Answer : aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system
Description : The incidence of sales tax falls on - (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers
Last Answer : (1) Consumers Explanation: In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall" upon the group ... where the revenue is collected, but on the price elasticity of demand and price elasticity of supply.
Description : The incidence of Tax refers to - (1) Who pays the Tax? (2) Who bears the burden of Tax? (3) How Taxes can be shifted? (4) Who transfers the Tax burden?
Last Answer : (2) Who bears the burden of Tax? Explanation: In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to "fall' upon the group that ultimately bears the burden of, or ultimately has to pay, the tax.
Description : The incidence of Tax refers to (1) Who pays the Tax ? (2) Who bears the burden of Tax ? (3) How Taxes can be shifted ? (4) Who transfers the Tax burden ?
Last Answer : Who bears the burden of Tax ?
Description : The incidence of sales tax falls on (1) Consumers (2) Wholesale dealers (3) Retail dealers (4) Producers
Last Answer : Consumers
Description : A cloud was my mother, the wind is my father, my son is the cool stream, and my daughter is the fruit of the land. A rainbow is my bed, the earth my final resting place, and I'm the torment of man. Who Am I? -Riddles
Last Answer : Rain.
Description : )Which of the following fit the category of external risks? 1. Project delays, budget under-runs, movement of city utilities 2. Regulatory, currency changes, taxation 3. Natural disasters, ... , design, social impact 5. Political unrest, budget overruns, size and complexity of the project
Last Answer : 2. Regulatory, currency changes, taxation
Description : The Ability Principle of Taxation is given by - (1) Adam Smith (2) Edgeworth (3) Joan Robinson (4) J.S.Mill
Last Answer : (1) Adam Smith Explanation: The 'Ability-to-Pay' principle of Taxation is one of the canons of taxation proposed by Adam Smith in his 'Wealth of Nations.' It is a progressive taxation principle ... to pay of an individual or group. The emphasis in this approach is put on redistribution of income.
Description : Taxation is a tool of - (1) Monetary-policy (2) Fiscal policy (3) Price policy (4) Wage policy
Last Answer : (2) Fiscal policy Explanation: In economics, fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy. The two main instruments of fiscal policy are government taxation and expenditure.
Description : The main emphasis of Keynesian economics is on - (1) Expenditure (2) Exchange (3) Foreign trade (4) Taxation
Last Answer : (1) Expenditure Explanation: Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation. It emphasizes that government expenditures (or tax cuts) leads to increase in GDP which is a multiple of the original expenditure.
Description : Which one of the following is not a 'canon of taxation' according to Adam Smith? (1) Canon of certainty (2) Canon of simplicity (3) Canon of convenience (4) Canon of economy
Last Answer : (2) Canon of simplicity Explanation: In this book, titled The Wealth of Nations, 'Adam smith only gave four canons of taxation: (i) canon of equity; (ii) canon of certainty; (iii) canon of convenience; and (iv) canon of economy.
Description : The supply-side measure to control inflation is - (1) Reducing public expenditure (2) Price control through Public Distribution System (3) Higher taxation to mop up liquidity (4) Credit control
Last Answer : (2) Price control through Public Distribution System Explanation: The issue of inflation is addressed from both demand and supply sides. demand management is achieved by measures such as postponing public expenditure ... rice and wheat resorted to by FCI from its buffer stock in times of price rise.
Description : The 'Canons of Taxation' were propounded by - (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton
Last Answer : (2) Adam Smith Explanation: Canons of Taxation were first originally laid down by economist Adam Smith in his famous book 'The Wealth of Nations". In this book, Adam smith only gave four canons of taxation: ... equity: (ii) canon of certainty: (iii) canon of convenience; and (iv) canon of economy.
Description : Which of the followings cannons of taxation have been propounded by Adam Smith ? (a) Economy, Elasticity, Simplicity, Sufficiency. (b) Certainty, Convenience, Economy, Elasticity. (c) Economy, Co-ordination, Convenience, Expediency. (d) Equity, Certainty, Convenience, Economy.
Last Answer : (a) Economy, Elasticity, Simplicity, Sufficiency.
Description : The most important source of Public Revenue is (a) Taxation (b) Fees (c) Fines and Penalties (d) Subsidies
Last Answer : (a) Taxation
Description : The Diffusion theory in Taxation was given by (a) Adam Smith (b) Seligman (c) Findlay Shirras (d) Mansfield and Canard
Last Answer : (d) Mansfield and Canard
Description : An increase in consumption at any given level of income will lead to (a) Higher aggregate demand. (b) An increase in exports. © A fall in taxation revenue. (d) A decrease in import spending.
Last Answer : (a) Higher aggregate demand.
Description : Taxation is a tool of (1) Monetary policy (2) Fiscal policy (3) Price policy (4) Wage policy
Last Answer : Fiscal policy
Description : Which one of the following is not a ‘canon of taxation’ according to Adam Smith ? (1) Canon of certainty (2) Canon of simplicity (3) Canon of convenience (4) Canon of economy
Last Answer : Canon of simplicity
Description : The ‘Canons of Taxation’ were propounded by (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton
Last Answer : Adam Smith
Description : The Ability Principle of Taxation is given by (1) Adam Smith (2) Edgeworth (3) Joan Robinson (4) J.S.Mill
Description : The supply-side measure to control inflation is (1) Reducing public expenditure (2) Price control through Public Distribution System (3) Higher taxation to mop up liquidity (4) Credit control
Last Answer : Price control through Public Distribution System
Description : The main emphasis of Keynesian economics is on (1) Expenditure (2) Exchange (3) Foreign trade (4) Taxation
Last Answer : Expenditure
Description : No politicking, just economics. Would simply taxing all goods and services work better than the American system of taxation? Akin to sales tax.
Last Answer : I think, and have for awhile, taxing individuals is messy and inefficient. Taxing all goods and services is even more messy and inefficient. If I had to redo from scratch, I’d perhaps only tax corporations, inheritances, and capital gains as a way to simplify everything.
Description : Is progressive taxation really a transfer of wealth, or do the wealthy remain wealthy even with a progressive tax system?
Last Answer : The wealthy remain wealthy.
Description : The term receiving accountant includes the following, except; a. A professional accountant in public practice to whom existing accountant has referred tax engagement. b. A professional accountant ... or carrying out accounting, taxation, consulting or similar professional services for a client.
Last Answer : A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client.
Description : Which of the following does not constitute a practice of accountancy? a. A person holding out himself as one skilled in the knowledge, science and practice of accounting and as a qualified person ... d. A person is appointed as a marketing director of a government owned and controlled corporation.
Last Answer : A person is appointed as a marketing director of a government owned and controlled corporation.
Description : A CPA is in public accounting practice when he/she a. Holds, or is appointed to, in an accounting professional group in government or in a government-owned and/or controlled ... advisory services, accounting aspect of finance, business law, taxation, and other technically related subjects
Last Answer : Represents his/her clients before government agencies on tax and other matters related to accounting
Description : Poduis the name of shifting agriculture in - a. Sikkim b. Kerala c. Odisha d. Himachal Pradesh
Last Answer : c. Odisha
Description : Monoculture is a distinct characteristic of which of the following? a. Shifting cultivation b. Organic farming c. Subsistence farming d. Commercial grain farming
Last Answer : d. Commercial grain farming
Description : Milpa and Ladang are different names for - a. shifting cultivation b. mixed farming c. truck farming d. plantation agriculture
Last Answer : a. shifting cultivation
Description : The important feature of shifting cultivation is : [Excise & I. Tax 1993] (a) cultivation by transplantation (b) cultivation of Leguminous crops (c) change of cultivation site (d) rotating of crops
Last Answer : Ans: (c)
Description : A situation which is providing some relief from tax in whole or part is referred as _________ A. Tax Break B. Tax Evasion C. Tax Shifting D. None of the Above
Last Answer : A. Tax Break Explanation: Tax break is a term referring to any item which avoids taxes, including any tax exemption, tax deduction, or tax credit.
Description : Which of the following term refers the illegal escape from the tax payment? A. Tax Break B. Tax Evasion C. Tax Shifting D. None of the Above
Last Answer : B. Tax Evasion Explanation: Tax evasion is an illegal practice where a person, organization or corporation intentionally avoids paying his/her/its true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties.
Description : The demand for cable television is relatively elastic, because if the price gets too high, people will rent DVDs or videos instead of watching cable. Who is likely to bear the incidence of a 10 percent tax on cable television?
Last Answer : the producer
Description : Bohr effect is (A) Shifting of oxyhemoglobin dissociation curve to the right (B) Shifting of oxyhemoglobin dissociation curve to the left (C) Ability of hemoglobin to combine with O2 (D) Exchange of chloride with carbonate
Last Answer : Answer : A
Description : The industrial revolution that started in the West to begin with had the following effect on education Options: A) Shifting the emphasis from the lower class culture to the middle ... class culture C) Introduction of mass educational programmes D) Introduction of vocationalisation of education
Last Answer : D) Introduction of vocationalisation of education
Description : The antianginal effect of propranolol may be attributed to which one of the following (a) Block of exercise – induced tachycardia (b) Decreased end – diastolic ventricular volume (c) Dilation of consticted coronary vessels (d) Increased cardiac force (e) Increased resting heart rate
Last Answer : Ans: A
Description : The following is true of bezafibrate except: A. It activates lipoprotein lipase B. It mainly lowers serum triglyceride level with smaller effect on LDL cholesterol level C. It increases the incidence of myopathy due to statins D. It tends to lower plasma fibrinogen level
Last Answer : C. It increases the incidence of myopathy due to statins
Description : If given the chance to stay on Earth as a ghost unable to make your presence known to anyone and can only stay within a few miles from your resting place, will you take it and for how long?
Last Answer : Do I get to pick the resting place?
Description : Critical angle of electromagnetic radiation takes place if (A) Angle of incidence is equal to angle of refraction (B) Angle of incidence is greater than the angle of refraction (C) Angle of incidence is equal to 90° (D) Angle of refraction is equal to 90°
Last Answer : Answer: Option D
Description : How do freelance designers handle government taxation and client invoicing?
Last Answer : If you're freelance, or work with contracts via an agency, usually the taxes will be left for you to deduct and figure out. In regards to invoicing, if you freelance, it's up to you to ... maybe a book about starting a business is enough to get some pointers as to what questions to ask next.
Description : To which duties is the system of value added taxation applicable? -General Knowledge
Last Answer : The answer is 'Excise duties'
Description : Taxation and the government’s expenditure policy are dealt under under which policy? -General Knowledge
Last Answer : The answer is 'Fiscal policy'
Description : Taxation and the government's expenditure policy are dealt under under which policy? -Do You Know?
Last Answer : answer: