This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 12 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The government borrows money from RBI or directs to print additional currency to cover up A) Public debt. B) Budget defecit. C) Deficit finance. D) Public finance. Show Answer Correct Answer: C) Deficit finance. 2. Recovery of loan is: A) Revenue receipt. B) Capital receipt. C) Revenue expenditure. D) Capital expenditure. Show Answer Correct Answer: B) Capital receipt. 3. Following is the feature of direct taxes A) Direct taxes are imposed on goods and services. B) Their burden can be shifted to others. C) Their impact and ultimate burden lie on the same person. D) They tend to raise the price of goods. Show Answer Correct Answer: C) Their impact and ultimate burden lie on the same person. 4. Previously one dollar was equal to 69 rupees, now the value of one dollar is equal to 85 rupees. What happens to value of rupee A) Depreciated. B) Appreciated. C) Remained same. D) None of the above. Show Answer Correct Answer: A) Depreciated. 5. A performance budget is one that reflects ..... for each unit of an organization. A) The input of resources. B) Both the input of resources and the output of services. C) The output of services. D) Neither the input of resources nor the output of services. Show Answer Correct Answer: B) Both the input of resources and the output of services. 6. Which country first introduced Budget? ? ? A) China. B) India. C) England. D) None of above. Show Answer Correct Answer: B) India. 7. Under the Union Government's new scheme for the farmers, how much direct income support will be provided in a year? A) Rs 8000. B) Rs 5000. C) C) Rs 6000. D) D) Rs 9000. Show Answer Correct Answer: C) C) Rs 6000. 8. What is the target (in terms of GDP) of Fiscal Deficit for FY 2019-20? A) 3.1%. B) 3.5%. C) 3.4%. D) 4.4%. Show Answer Correct Answer: C) 3.4%. 9. Our primary focus is delivering value of the highest standard to our stake holders: A) Entrepreneurship. B) Excellence. C) Respect. D) Integrity. Show Answer Correct Answer: B) Excellence. 10. Assertion:Highway and roads are announced in Kerala, Tamil Nadu and West Bengal in Budget, 2021.Reason:Such announcements will increase the revenue expenditure of the Government. A) Both Assertion (A) and Reason (R ) are true and Reason (R ) is the correct explanation of the Assertion (A). B) Both Assertion (A) and Reason (R ) are true and Reason (R ) is not the correct explanation of the Assertion (A). C) Assertion (A) is true but the Reason (R ) is false. D) Assertion (A) is false but the Reason (R ) is true. Show Answer Correct Answer: B) Both Assertion (A) and Reason (R ) are true and Reason (R ) is not the correct explanation of the Assertion (A). 11. When any commercial bank is unable to meet financial obligation then it approaches Central Bank for financial accommodation this function of Central Bank is called A) Banker of bank. B) Lander of last resort. C) Bank of Government. D) Controller of credit. Show Answer Correct Answer: B) Lander of last resort. 12. Progressive tax is a tex which is ..... A) Charge at decreasing rate when income of individual increase. B) Charge at increasing rate when income of individual increase. C) A fixed percentage of an individual income. D) None of these. Show Answer Correct Answer: B) Charge at increasing rate when income of individual increase. 13. Which of the following is a capital receipt A) Income Tax. B) Interest Income. C) Sale of shares of a public sector undertaking to Reliance Industries. D) Dividends from a PSU. Show Answer Correct Answer: C) Sale of shares of a public sector undertaking to Reliance Industries. 14. An expenditure the benefit of which is enjoyed for more than one financial year is known as: A) Revenue expenditure. B) Long term expenditure. C) Extra ordinary expenditure. D) Capital expenditure. Show Answer Correct Answer: D) Capital expenditure. 15. Revenue earned by government from the property without any legal heir is called; A) Donation. B) Escheat. C) Special assessment. D) Both bnc. Show Answer Correct Answer: B) Escheat. 16. What does M in M Banking stands for. A) Monetary. B) Money. C) Modern. D) Mobile. Show Answer Correct Answer: D) Mobile. 17. Measuring advertising effectiveness is the process of ..... ad campaigns A) Controlling. B) Evaluating. C) Monitoring. D) Regulating. Show Answer Correct Answer: B) Evaluating. 18. Which of the following are objectives of budget? A) Reallocation of resources. B) Redistribution of income. C) Economic stability. D) All of these. Show Answer Correct Answer: D) All of these. 19. Tax collected is A) Revenue receipt. B) Revenue expenditure. C) Capital expenditure. D) NOTA. Show Answer Correct Answer: A) Revenue receipt. 20. The Union Budget 2020-21 aims:-I. To achieve seamless delivery through digital governanceII. To improve the physical quality of life through national infrastructure pipeline(a) Only I(b)Only I, II(c) Only II(d)Neither I or II A) A. B) B. C) C. D) D. Show Answer Correct Answer: B) B. ← 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