This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Budget > Indian Budget – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Budget Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Our people are our most important assets. We actively encourage their development and support them in pursing their goals: A) Excellence. B) Entrepreneurship. C) Integrity. D) Care. Show Answer Correct Answer: D) Care. 2. The government has decided to set up Rashtriya Kamdhenu Aayog for the welfare of which animal? A) Cow. B) Tiger. C) Rhino. D) Goat. Show Answer Correct Answer: A) Cow. 3. Web based marketing is an example of ..... advertising A) Consumer. B) Digital. C) Industrial. D) Puffery. Show Answer Correct Answer: B) Digital. 4. Which of the following is a tax revenue receipts of government? A) Excise duty. B) Escheat. C) Special assessment. D) Fees and fines. Show Answer Correct Answer: A) Excise duty. 5. When was country's first Union Budget presented in the Parliament . A) 26th November 1947. B) 26th January 1950. C) 15th August 1947. D) 14th July 1948. Show Answer Correct Answer: A) 26th November 1947. 6. The rate which the income tax is imposed in India is called ..... A) Digressive rate. B) Progressive rate. C) Regressive rate. D) Proportionate rate. Show Answer Correct Answer: A) Digressive rate. 7. An expenditure that provides benefit for less than one financial period is known as: A) Ordinary expenditure. B) Regular expenditure. C) Revenue expenditure. D) Nominal expenditure. Show Answer Correct Answer: C) Revenue expenditure. 8. Which one of them is an Indirect tax A) Special Assessment Tax. B) Excise Duty. C) Fees. D) Corporation Tax. Show Answer Correct Answer: B) Excise Duty. 9. Which of the following documents are presented to the legislature along with the budget? I. An explanatory memorandum on the budget II. A summary of demands for grants III. An Appropriation Bill IV. A Finance Bill V. The economic survey Code: A) I, III and V. B) I, II and III. C) II, III and V. D) I, II, III and IV. Show Answer Correct Answer: D) I, II, III and IV. 10. The component of budget that creates an asset of the government is A) Revenue receipt. B) Revenue expenditure. C) Capital receipt. D) Capital expenditure. Show Answer Correct Answer: D) Capital expenditure. 11. We place utmost importance to engaging ethically and transparently with all our stakeholders, taking accountability of our actions to maintain the highest standards of professionalism. A) Care. B) Entrepreneurship. C) Integrity. D) Integrity. Show Answer Correct Answer: C) Integrity. 12. Which of the following is not a non tax receipt? A) Fees. B) Fines. C) Gift tax. D) Grands and donations. Show Answer Correct Answer: C) Gift tax. 13. We consistently deliver projects ahead of time at industry-leading costs of construction and within budget. We are constantly focused on achieving a top decile cost of production in each of our businesses. A) Excellence. B) Entrepreneurship. C) Integrity. D) Trust. Show Answer Correct Answer: A) Excellence. 14. India belongs to which type of economy? A) Capitalist. B) Federal. C) Mixed. D) Socialist. Show Answer Correct Answer: C) Mixed. 15. An example for Indirect tax is A) Corporate tax. B) GST. C) Personal income tax. D) Stamp duty. Show Answer Correct Answer: B) GST. 16. Zero primary deficit means A) No liabilities with government. B) The government has to resort to borrowing only to meet interest payments. C) No interest payments. D) No borrowing. Show Answer Correct Answer: B) The government has to resort to borrowing only to meet interest payments. 17. Money multiplier is equal to A) LRR. B) CRR. C) 1/LRR. D) None of these. Show Answer Correct Answer: C) 1/LRR. 18. The receipts which either create a liability or cause a reduction in the assets of the government is called A) Revenue expenditure. B) Capital Revenue. C) Revenue Receipts. D) Capital expenditure. Show Answer Correct Answer: B) Capital Revenue. 19. Which of the following are capital receipts of the Government? A) Recovery of loan. B) Borrowings. C) Disinvestment. D) All of these. Show Answer Correct Answer: D) All of these. 20. ..... following is non tax receipt? A) Gift tax. B) Sales tax. C) Donations. D) Excise duty. Show Answer Correct Answer: C) Donations. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesIndian Budget Quiz 1Indian Budget Quiz 3Indian Budget Quiz 4Indian Budget Quiz 5Indian Budget Quiz 6Indian Budget Quiz 7Indian Budget Quiz 8Indian Budget Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books