Public Finance-Online Practice Exam 9
Public Finance-Online Practice Exam 9

Public Finance-Online Practice Exam 9

NET / SET Online Practice Exams

Public Finance

Test

Multi-choice 9

Question

1. GST means-

Answers

Goods and Services Tax

Going Stronger Together

Good and Simple Tax

All of the above

Feedback

Question

2. Major goods/sectors excluded from GST are-

  1. . Alcohol

  2. Petroleum and energy

  3. Electricity

  4. Land and real estate

  5. Education

  6. Healthcare

Answers

II, V and VI

II, III and IV

I, II, III and IV

All of these

Feedback

Question

3. Which Commitee recommended abolition of tax rebates under section 88 ?

Answers

Kelkar Committee

Chelliah Committee

Shome Committee

None of these

Feedback

Question

4. Goods and Services Tax is applicable in India from-

Answers

March 15, 2017

April 1, 2017

January 1, 2017 

July 1, 2017

Feedback

Question

5. Goods and Services Tax introduced in India from 2017 has its roots in the regime of Prime Minister-

Answers

Narendra Modi

Atal Bihari Bajpayee

H. D. Devegoda

Man Mohan Singh

Feedback

Question

6. Consider the following statements about India’s external debt and choose the correct code given below:

  1. India’s external debt has declined by 1-6% to US $ 521.2 billion end Dec. 2018 over its level at March 2018.
  2. The decline in external debt is primarily on account of a decrease in commercial borrowings and trade credit.
  3. Commercial borrowings continued to be the largest component of external debt.
  4. The share of short-term debt in total external debt increased to 19.9% at end-Dec. 2018 from 19.3% at end-March 2018.

The correct code is :

Answers

I, II, III and IV

III and IV

II, III and IV

I, II and IV

Feedback

Question

7. Which of the following statement is correct st the insolvency and Bankruptcy Code

Answers

All of the below given

IBBI and National Company Law Tribunal (NCLT) are in hands in gloves to complete the proceedings under the code 

The Code is operational since December 2016

The Code is implemented by The Insolvency and Bankruptcy Board of India (IBBI)

Feedback

Question

8. Which of the following statement is correct about DIPAM ?

Answers

It is a separate department under the Ministry of Finance

It’s key function is to implement the disinvestment policy of the Central Government

The Department of Disinvestment has bees renamed as Department of Investment and Public Asset Management (DIPAM) from 14h April, 2016

All of the above

Feedback

Question

9. The age group of Senior Citizen for income tax purpose now stands at-

Answers

60-80 years

60-75 years

58-80 years

65-80 years

Feedback

Question

10. Consider the following- 

Assertion (A): According to Peacock-Wiseman hypothesis, public expenditure increases overtime in a step by step manner.

Reason (R) This hypothesis is based on displacement effect, concentration effect and inspection effect.

Answers

(A) is true, but (R) is false

(A) is false, but (R) is true

Both (A) and (R) are true, but (R) is not the correct of (A)

Both (A) and (R) are true and (R) is the correct explanation of (A)

Feedback

Prepared by www.myeconomics.info

"There is no joy in possession without sharing". Share this page.

Loading

Leave a Reply

Your email address will not be published. Required fields are marked *