Indian Public Finance – 1 – 2

6. Inflation is caused by :

(a) increase in supply of goods
(b) increase in cash with the government
(c) decrease in money supply
(d) increase in money supply

ANSWER
Answer : (d)

EXPLANATION
No answer description available for this question. Let us discuss.

7. Which one of the following taxes in India is imposed by the central government on the basis of the ability to pay principle ?

(a) Wealth tax
(b) Gift tax
(c) Corporate tax
(d) Income tax

ANSWER
Answer : (d)

EXPLANATION
No answer description available for this question. Let us discuss.

8. Consider the following :
1. Fringe Benefit Tax
2. Interest Tax
3. Securities Transaction Tax
Which of the mentioned above is/are Direct tax/taxes ?

(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) All of these

ANSWER
Answer : (d)

EXPLANATION
No answer description available for this question. Let us discuss.

9. Consider the following taxes :
1. Personal income tax
2. Import duty
3. Service tax
Which of the taxes given above is/are Indirect Tax/Taxes ?

(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) Only 2

ANSWER
Answer : (c)

EXPLANATION
No answer description available for this question. Let us discuss.

10. Consider the following taxes :
1. Sales tax
2.Value-added tax
3. Property tax
Which of the taxes given above is/are Ad valorem tax/taxes ?

(a) 1 and 2
(b) 1 and 3
(c) 2 and 3
(d) All of these

ANSWER
Answer : (d)

EXPLANATION
No answer description available for this question. Let us discuss.

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