The Government: Budget and the Economy Test

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The Government: Budget and the Economy Test - 6

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Weekly Quiz Competition

Question 1
1 / -0

The government budget is an

A
Five yearly statement

B
Half yearly statement

C
Annual statement

D
Weekly statement

Solution

Government budget is an annual statement of the estimates of the governemnt receipts and government expenditure during the period of the financial year.
Question 2
1 / -0

The government budget shows the government’s

A
Estimated receipts and expenditure

B
Estimated receipts only

C
Actual receipts and expenditure

D
Estimated expenditure only

Solution

It is a statement of the estimates of the government receipts and government expenditure during the period of a financial year.
Question 3
1 / -0

The "actual" value of the variables like consumption, investment, output, etc, is known as:

A
ex ante measures

B
ex pre measures

C
ex post measures

D
none of these

Solution

ex ante measures
Question 4
1 / -0

One of the two components of government budget are

A
Expenditure budget

B
Revenue budget

C
Income budget

D
Investment budget

Solution

Revenue and capital budget are the two main components of budget. Under revenue budget, we have revenue receipts and revenue expenditure of the government.
Question 5
1 / -0

One more of the two components of government budget are

A
Income budget

B
Investment budget

C
Capital budget

D
Expenditure budget

Solution

Capital budget is a component of the government budget. It includes the capital receipts and capital expenditure of the governemnt.
Question 6
1 / -0

One of the two components of Revenue budget are

A
Expenditure receipts

B
Income receipts

C
Revenue receipts

D
Investment receipts

Solution

Revenue receipts of the government may be defined as those money receipts which neither creates a liabilty nor reduces the assets of the government.
Question 7
1 / -0

One of the other two components of Revenue budget are

A
Revenue expenditure

B
Income budget

C
Investment Expenditure

D
Budget Expenditure

Solution

Revenue budget has two components. Revenue receipts and reveneue expenditure.

Revenue expenditure refers to the estimated expenditure of the government in a fiscal year which does not create assets or cause a reduction in liabilities.
Question 8
1 / -0

One of the two components of Capital budget are

A
Investment receipts

B
Capital receipts

C
Revenue receipts

D
Expenditure receipts

Solution

capital receipts refers to those money receipts of the government which either create a liability for the government or cause a reduction in the assets
Question 9
1 / -0

One of the other two components of Capital budget are

A
Capital expenditure

B
Income budget

C
Investment Expenditure

D
Budget Expenditure

Solution

capital expenditure refers to the estimated expenditure of the government in a fiscal year which creates assets or causes a reduction in liabilities.
Question 10
1 / -0

One of the two components of government Revenue in the budget are

A
Revenue Expenditure

B
Revenue receipts

C
Expenditure receipts

D
Budget receipts

Solution

There are two components of government revenue. They are revenue receipts and capital receipts. Revenue receipts are classified as tax receipts and non tax receipts.

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Re-Attempt Weekly Quiz Competition

The Government: Budget and the Economy Test - 6

Result

The Government: Budget and the Economy Test - 6

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Rank

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SHARING IS CARING

Question 1

Five yearly statement

Half yearly statement

Annual statement

Weekly statement

Solution

Question 2

Estimated receipts and expenditure

Estimated receipts only

Actual receipts and expenditure

Estimated expenditure only

Solution

Question 3

ex ante measures

ex pre measures

ex post measures

none of these

Solution

Question 4

Expenditure budget

Revenue budget

Income budget

Investment budget

Solution

Question 5

Income budget

Investment budget

Capital budget

Expenditure budget

Solution

Question 6

Expenditure receipts

Income receipts

Revenue receipts

Investment receipts

Solution

Question 7

Revenue expenditure

Income budget

Investment Expenditure

Budget Expenditure

Solution

Question 8

Investment receipts

Capital receipts

Revenue receipts

Expenditure receipts

Solution

Question 9

Capital expenditure

Income budget

Investment Expenditure

Budget Expenditure

Solution

Question 10

Revenue Expenditure

Revenue receipts

Expenditure receipts

Budget receipts

Solution

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