Description : Taxes are as certain as the death, because - (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.
Last Answer : (1) They constitute the major source of government revenue. Explanation: Benjamin Franklin's utterance, "In this world nothing can be said to be certain, except death and taxes," when applied ... draws on the actual inevitability of death to highlight the difficulty in avoiding the burden of taxes.
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 : Whenever the government spends more than it collects through revenue, the resulting imbalance is known as : a) Public deficit b) Market deficit c) Government deficit d) Budget deficit
Last Answer : d) Budget deficit
Description : The Government Budget consists of which main component/s? a) Revenue Budget and Capital Budget b) Capital Budget only c) Revenue Budget only d) None of the above
Last Answer : a) Revenue Budget and Capital Budget
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 does lowering taxes increase government revenue?
Last Answer : Economics is not an exact science. It is a lot of guesswork, There is no mutually agreed way to determine whether to raise or lower taxes; it is determined more by politics than by economics.
Description : During the planning development process, at times it is necessary to make certain assumptions to enhance the project plan when the data is not available. In regard to making those assumptions, ... upon historical data used for the project. 4. Senior management predefines the budget constraints.
Last Answer : 1. The assumptions will be considered as true, real, or certain.
Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C
Last Answer : c. budget surplus of $1000
Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its - (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve
Last Answer : (2) long-run average cost curve Explanation: Under perfect competition, the firms operate at the minimum point of long-run average cost curve. In this way, the actual longrun output of ... ideal output. This gives the mea-sure of excess capacity which lies unutilized under imperfect competition.
Description : Under perfect competition, the industry does not have any excess capacity because each firm produces at the minimum point on its (1) long-run marginal cost curve (2) long-run average cost curve (3) long-run average variable cost curve (4) long-run average revenue curve
Last Answer : long-run average cost curve
Description : Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments
Last Answer : (2) State Government Explanation: The Constitution of India allocates the taxation of agricultural income to states. Land revenue is a major source of revenue for states in India
Description : 1. The largest source of tax revenue for the federal government is: a. the personal income tax b. the social security tax c. the property tax d. the sales tax
Last Answer : a. the personal income tax
Description : Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments
Last Answer : State Government
Description : Which of the following would not constitute an economic activity in Economics? (1) A teacher teaching students in his college (2) A teacher teaching students in a coaching institute (3) A teacher teaching his own daughter at home (4) A teacher teaching students under Sarva Shiksha Abbiyan Scheme
Last Answer : (3) A teacher teaching his own daughter at home Explanation: Economic activity, is quite simply, the activity of the economy. It includes the growth and shrinkage of the economy and all factors ... indicators. A teacher teaching his daughter at home is the example of a non-economic activity.
Description : Which one of the following would not constitute an economic activity? (1) A teacher teaching students in his class (2) A teacher teaching students under Sarva Shiksha Abhiyan (3) A teacher teaching his own daughter at home (4) A teacher providing consultancy services from his residence
Last Answer : (3) A teacher teaching his own daughter at home Explanation: Economic activities are related to production, distribution, exchange and consumption of goods and services. The primary aim of ... called noneconomic activities." Here, there is no monetary consideration in exchange for such activities.
Description : Which of the following would not constitute an economic activity in Economics ? (1) A teacher teaching students in his college (2) A teacher teaching students in a coaching institute (3) A teacher teaching his own daughter at home (4) A teacher teaching students under Sarva Shiksha Abbiyan Scheme
Last Answer : A teacher teaching his own daughter at home
Description : Which one of the following would not constitute an economic activity ? (1) A teacher teaching students in his class (2) A teacher teaching students under Sarva Shiksha Abhiyan (3) A teacher teaching his own daughter at home (4) A teacher providing consultancy services from his residence
Description : Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties
Last Answer : (3) Land revenue Explanation: The Constitution allocates the taxation of agricultural income to states. Lan revenue is a major source of revenue for states in India. For purpose of ... Commissioner, also known as Collector indicating his responsibility for the realization of all Government revenues.
Description : Which one of the following taxes is collected and utilized by the State Governments ? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties
Last Answer : Land revenue
Description : Answer: b, c, d Eosinophils constitute 1% to 3% of the leukocyte population of the bloodstream. They also reside in tissues and they exhibit phagocytic capabilities. They are less ... the cycle of events that result in recruitment and activation of inflammatory cells at sites of inflammation
Last Answer : Cellular injury from oxidants may be manifest by which of the following? a. Cell membrane lipid peroxidation b. DNA strand breaks c. Cytoskeletal disassembly d. ATP depletion
Description : Integrity constraints ensure that changes made to the database by authorized users do not result into loss of data consistency. Which of the following statement(s) is (are) true w.r.t. the examples of integrity constraints? (A) An ... ) and (B) are true; (C) false. (4) (A), (B) and (C) are false.
Last Answer : Answer: 3
Description : Rent, interest on fixed capital, depreciation of building, taxes and wages of the permanent labourers constitute
Last Answer : Ans. Fixed Costs
Description : 1. The situation in which all available resources are used inefficiently manner.
Last Answer : Suggest the economic terms for the given statements: 1. The situation in which all available ... to breakdown of machinery, power failure, etc.
Description : Which of these is not one of the constraints of a project? a. Scope b. Resources c. Team d. Budget
Last Answer : c. Team
Description : What is the first step in project planning? Select one: a. Establish the objectives and scope. b. Determine the budget. c. Select the team organizational model. d. Determine project constraints. e. Inspect the deliverables.
Last Answer : a. Establish the objectives and scope.
Description : The Scope Statement should contain which of the following? 1. Project schedule 2. Project budget constraints 3. Summary of project tasks , deliverables and resources required 4. Project objectives
Last Answer : 4. Project objectives
Description : Which of these is not one of the constraints of a project? A. Scope B. Resources C. Team D. Budget
Last Answer : C. Team
Description : Deciding how much testing is enough should take into account:- i. Level of Risk including Technical and Business product and project risk ii. Project constraints such as time and budget iii. Size of Testing Team iv. Size ... ii are true and iii, iv are false d) ii, iii, iv are true and i is false
Last Answer : c) i, ii are true and iii, iv are false
Description : A is accused of waging war against the Government of India by taking part in and armed in surrection. In which property is destroyed, Troops are attached and goals are broken open. A is not ... for relevant facts c) They are effect of relevant facts d) They form part of general transaction
Last Answer : d) They form part of general transaction
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 major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy
Last Answer : (3) Promote economic growth with price stability Explanation: The main objective of monetary policy is to control the supply of money, often targeting an inflation rate or interest rate ... usually to contribute to lower unemployment, and to maintain predictable exchange rates with other currencies.
Description : The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy
Last Answer : Promote economic growth with price stability
Description : In the recent budget, the facility of Kisan Credit Card (KCC) scheme has been extended by the government to which other sectors? a. Poultry and Apiculture b. Fisheries and Poultry c. Apiculture and Horticulture d. Fisheries and Animal Husbandry
Last Answer : d. Fisheries and Animal Husbandry
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 : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand
Last Answer : (3) low elasticity of demand Explanation: The Ramsey rule states that commodities with low elasticities of demand should be taxed at higher rates than commodities with high elasticities of demand. ... the Ramsey rule may result in a regressive taxation scheme society may view as inequitable.
Description : The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in ... in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Last Answer : d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
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
Last Answer : low elasticity of demand
Description : Which of the following statements is not true about phospholipids? (a) They are similar to triacylglycerols except that the middle OH group of glycerol reacts with a phosphate rather than with a ... is a phospholipid. (d) The C-2 carbon of glycerol in phosphoacylglycerols has the R configuration
Last Answer : They are similar to triacylglycerols except that the middle OH group of glycerol reacts with a phosphate rather than with a fatty acid
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 : 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 : 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 : What is the major source of revenue for the commercial banks? -SST 10th
Last Answer : Their major source of revenue is the difference between what is charged from borrowers and what is paid to depositors.
Description : Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a government ... spending to fall d. a government budget deficit raises American exports and lowers American imports
Last Answer : c. a government budget deficit raises interest rates and causes investment spending to fall
Description : 10. Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a ... investment spending to fall d. a government budget deficit raises American exports and lowers American imports
Description : What records a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? a) Trade deficit b) Capital Budget c) Foreign imports d) Balance of Payments or BoP
Last Answer : b) other things remaining equal
Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods
Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.
Description : Taxes on professions can be levied by : (1) State government only (2) both by state and union government (3) by panchayats only (4) Union government only
Last Answer : (1) State government only Explanation: In India, the professional tax is imposed at the state level. However, not all the states impose this tax. Business owners, working individuals, ... comes under the purview of this tax. Professional tax is levied by particular Municipal Corporations.