The Government: Budget and the Economy Test

Result

The Government: Budget and the Economy Test - 23

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

If borrowings and other liabilities are added to the budget deficit it is termed as __________.

A
fiscal deficit

B
primary deficit

C
capital deficit

D
revenue deficit
Question 2
1 / -0

Loan raised is _____________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these
Question 3
1 / -0

Which of the following statement deals with debts and claims of a country?

A
Balance of capital A/C

B
Balance of trade A/c

C
Balance of current A/C

D
Balance of services.
Question 4
1 / -0

What is the budgetary deficit?

A
It is the difference between all receipts and expenditure.

B
It is the difference between all expenditure and receipts.

C
The difference between government loans and credits recovered.

D
Government assets and liabilities.
Question 5
1 / -0

Sale of Investment is __________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these

Solution

Capital receipts are those receipts which either create a liability or reduce an asset. Capital receipts are non - recurring in nature. Sale of investment reduces the asset. So it is a capital receipt.
Question 6
1 / -0

Capital introduced is ____________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these

Solution

Capital receipts are those receipts which either create a liability or reduce an asset. Capital introduced by proprietor create a liability for firm. So it is a capital receipt.
Question 7
1 / -0

Sale of Goods for cash is ____________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these
Question 8
1 / -0

Interest accrued on Investment is __________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these
Question 9
1 / -0

The receipt side of Cash Book ( Bank Column) was over cast by Rs. 112. When the balance as per Cash Book is starting point _________ .

A
Rs. 112 to be added

B
Rs. 112 to be subtracted

C
No adjustment in required

D
None of these

Solution

Receipt side of cash book overcast means bank balance in cash book is showing more balance than pass book. Balance in pass book is Rs.112 less than cash book balance. To match the balance cash book will be subtracted by Rs. 112.
Question 10
1 / -0

General subsidy received from Govt. is ______________.

A
Capital Receipt

B
Revenue Receipt

C
Advance Receipt

D
None of these

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

The Government: Budget and the Economy Test - 23

Result

The Government: Budget and the Economy Test - 23

Score

-

Rank

-

SHARING IS CARING

Question 1

fiscal deficit

primary deficit

capital deficit

revenue deficit

Question 2

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

Question 3

Balance of capital A/C

Balance of trade A/c

Balance of current A/C

Balance of services.

Question 4

It is the difference between all receipts and expenditure.

It is the difference between all expenditure and receipts.

The difference between government loans and credits recovered.

Government assets and liabilities.

Question 5

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

Solution

Question 6

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

Solution

Question 7

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

Question 8

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

Question 9

Rs. 112 to be added

Rs. 112 to be subtracted

No adjustment in required

None of these

Solution

Question 10

Capital Receipt

Revenue Receipt

Advance Receipt

None of these

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.