Self Studies
Self Studies
Self Studies
Self Studies

The Government: Budget and the Economy Test - 27

Result Self Studies

The Government: Budget and the Economy Test - 27
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

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.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    1 / -0
    Which among the following is a source of non-tax revenue for the government?
    Solution

    Non-tax receipts of the government are all those revenue receipts of the government that is not a part of tax receipts of the government be it a direct tax or indirect tax. For example - fees, fines, escheats, gifts and grants, interest and dividends on investment, etc. 

  • Question 2
    1 / -0
    __________ receipts are those monetary receipts which either creates a liability or leads to a reduction in the assets of the government.
    Solution

    Capital receipts are all those money receipts of the government that either creates a liability for the government or reduce an asset of the government. Therefore, capital receipts include small savings, market loans and provident funds.

  • Question 3
    1 / -0
    ____________ refers to all those revenue receipts of the government which are not a part of the tax receipts.
    Solution
    Non tax receipts of the government are all those revenue receipts of the government that is not a part of tax receipts of the government be it is direct tax or indirect tax. For example - fees, fines, escheats, etc. 
  • Question 4
    1 / -0
    The expenditure incurred by the government which is out of the scope of government plans due to calamities is termed as __________.
    Solution
    Non planned expenditure are those government expenditure that are incurred on the non planned projects of the government. All the expenditure incurred by the government on projects after five years of plans are considered as non planned expenditure. 
  • Question 5
    1 / -0
    ___________ refers to the claim of the government on the property of a deceased person, in case, no legal heir or will is left behind.
    Solution
    Escheat is a part of non tax revenue that refers to as the claim of the government on the property of some deceased person who does not have any legal heir or will for the property left behind. This is a type of revenue for the government. 
  • Question 6
    1 / -0
    Which of the following is a component of the capital receipts of the government?
    Solution

    Capital receipts are all those money receipts of the government that either creates a liability for the government or reduce an asset of the government. Therefore, capital receipts includes borrowings, disinvestment and recovery of loans. 

  • Question 7
    1 / -0
    ____________ expenditure is incurred for the smooth functioning of the government departments and its various services.
    Solution

    Revenue expenditure are all such types of government expenditure that does not create any assets for the government or does not cause any reduction in the liability of the government. These expenditures are mainly conducted to provide smooth functioning of government activities and related services. 

  • Question 8
    1 / -0
    Government expenditure is undertaken for ___________.
    Solution
    Government expenditure refers to the expenditure made by the government during the period of an accounting year which forms a part of the aggregate demand in the economy which is incurred either for consumption purpose like judiciary system or investment purpose like infrastructural development. 
  • Question 9
    1 / -0
    Government's consumption expenditure is incurred on:
    i. Defence services
    ii. Judiciary system
    iii. Construction on roads
    iv. Public utilities
    v. Telecom infrastructure development
    vi. Provision of social security
    Solution
    Government expenditure refers to the expenditure made by the government during the period of an accounting year which forms a part of the aggregate demand in the economy which is incurred either for consumption purpose or investment purpose. The government consumption expenditure includes expenditure on defence services, judiciary system, public utilities and provision of social security. 
  • Question 10
    1 / -0
    Which type of expenditure is incurred by the government for the economic and social development of the country?
    Solution
    The government expenditures incurred on activities that are directly related to or results in some economic and social development of the country such as infrastructural improvement are called developmental expenditures.
Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now