This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 11 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. How much amount has allocated for Railways in union budget 2019-20? A) Rs 17, 645 crore. B) Rs 64, 587 crore. C) Rs 10, 247 crore. D) Rs 18, 549 crore. Show Answer Correct Answer: B) Rs 64, 587 crore. 2. ..... advertising looks at consumers as a heterogeneous group A) Lifestyle. B) Rural. C) Ambush. D) None of above. Show Answer Correct Answer: A) Lifestyle. 3. We actively foster a culture of mutual trust in our interactions with our stake holders and encourage an open dialogue which ensures mutual respect: A) Entrepreneurship. B) Care. C) Trust. D) Integrity. Show Answer Correct Answer: C) Trust. 4. Which of the fololowing are the objective of government budget? A) Distrtibution of Income nd wealth. B) Economic stability. C) GDP growth. D) All of these. Show Answer Correct Answer: D) All of these. 5. ..... test is based on the memory of the respondent A) Reading. B) Recall. C) Inquiry. D) Check list. Show Answer Correct Answer: B) Recall. 6. In ..... method of percentage of the price per unit of items sold is allocated to advertising A) Percentage of sales. B) Unit of sales. C) Task objective. D) None of above. Show Answer Correct Answer: B) Unit of sales. 7. Fill in the blankFiscal deficit-Primary deficit = A) Revenue deficit. B) Borrowings requirements of the government. C) Capital expenditure. D) Interest payments. Show Answer Correct Answer: D) Interest payments. 8. ..... is the expenditure which is related to some specified plan for the year. A) Plan expenditure. B) Unplanned events. C) Capital expenditure. D) Revenue receipt. Show Answer Correct Answer: A) Plan expenditure. 9. Revenue expenditure A) Does not create any asset for the government. B) Reduces liability of the government. C) Is non-recurring expenditure. D) Increases productive capacity of the economy. Show Answer Correct Answer: A) Does not create any asset for the government. 10. The number of operational airports has crossed 100 with the commissioning of the latest airport in which state? A) Manipur. B) Sikkim. C) Mizoram. D) Nagaland. Show Answer Correct Answer: B) Sikkim. 11. Which statement(s) is/are correct regarding revenue receipts? A) They reduce assets. B) They create assets. C) They reduce liability. D) They do not create liability. Show Answer Correct Answer: D) They do not create liability. 12. What is the biggest source of Income for the Central Government in the Union Budget 2020-21? (a)Goods and Services Tax(b)Corporation Tax(c)Income Tax (d) Borrowings and other liabilities A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 13. Who approves the budget once its prepared A) President. B) Prime MInister. C) Parliament. D) None of above. Show Answer Correct Answer: C) Parliament. 14. Identify which of the following statement is true? A) Fiscal deficit is difference between planned revenue expenditure and planned revenue receipts. B) Fiscal deficit is difference between total planned expenditure and total planned receipts. C) Primary deficit is the difference between total planned receipt and interest payment. D) Fiscal deficit is the sum of primary deficit and interest payment. Show Answer Correct Answer: D) Fiscal deficit is the sum of primary deficit and interest payment. 15. A compulsory payment by citizens to the government without expecting any direct benefit is called A) Tax Revenue. B) Non Tax Revenue. C) Direct Tax. D) Indirect Tax. Show Answer Correct Answer: A) Tax Revenue. 16. Fiscal deficit is equal to A) Direct tax. B) Interest. C) Borrowings. D) All of these. Show Answer Correct Answer: C) Borrowings. 17. Who is the father of tax? ? ? A) Raja Jesudoss Chellian. B) Jame Wilson. C) Babu Chipkey. D) None of above. Show Answer Correct Answer: A) Raja Jesudoss Chellian. 18. According to RBI, Since Independence in 1947, India has faced four recession, which of the following were the reasons of recession in India. 1.Balance payment 2.Energy Crises 3.Drought 4.Oil shock A) 1 only. B) 2 and 3. C) 1 and 4. D) All of the above. Show Answer Correct Answer: D) All of the above. 19. Which one of the following is not an objective of government budget? A) Reallocation of resources. B) Economic stability. C) Increasing regional disparities. D) Economic growth. Show Answer Correct Answer: C) Increasing regional disparities. 20. Income tax refunds will be processed within ..... hours and released immediately? A) 12 hours. B) 14 hours. C) 24 hours. D) 36 hours. Show Answer Correct Answer: C) 24 hours. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesIndian Budget Quiz 1Indian Budget Quiz 2Indian Budget Quiz 3Indian Budget Quiz 4Indian Budget Quiz 5Indian Budget Quiz 6Indian Budget Quiz 7Indian Budget Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books