CBSE Class 12 Government Budget and the Economy Multiple Choice Questions with Answers. MCQ Questions Class 12 Government Budget and the Economy with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Government Budget and the Economy with Answers to know their preparation level.
Students who are searching for NCERT MCQ Questions Class 12 Government Budget and the Economy with Answers are compiled here to get good practice on all fundamentals. Know your preparation level on MCQ Questions for Class 12 Government Budget and the Economy with Answers. You can also verify your answers from the provided MCQ Class 12 Government Budget and the Economy with Answers. So, ace up your preparation with MCQ of Class 12 Economics Examinations.
MCQ Questions Class 12 Government Budget and the Economy with Answers - Set - 1
Question 1:Â
The amount collected by the government in the form of interest, fees, and dividends is known as ________
(A) Tax-revenue receipts
(B) Capital receipts
(C) Non-tax revenue receipts
(D) None of these
Correct Answer – (C)
Question 2:Â
How many types of revenue receipts are there?
(A) 2
(B) 3
(C) 4
(D) 6
Correct Answer – (A)
Question 3:Â
Which of the following is the component of a budget?
(A) Fiscal budget
(B) Capital budget
(C) Both of these
(D) None of these
Correct Answer – (C)
Question 4:Â
When government spends more than it collects by way of revenue, it incurs ______
(A) Budget surplus
(B) Budget deficit
(C) Capital expenditure
(D) Revenue expenditure
Correct Answer – (B)
Question 5:Â
Which of the following is an example of direct tax?
(A) VAT
(B) Excise duty
(C) Entertainment tax
(D) Wealth tax
Correct Answer – (D)
MCQ Questions Class 12 Government Budget and the Economy With Answers
Question 6:Â
The amount collected by the government as taxes and duties is known as _______
(A) Capital receipts
(B) Tax revenue receipts
(C) Non-tax revenue receipts
(D) All of these
Correct Answer – (B)
Question 7:Â
What is the annual statement of the government’s fiscal revenue and fiscal expenditure known?
(A) Budget
(B) Fiscal Budget
(C) Capital Budget
(D) All of these
Correct Answer – (B)
Question 8:Â
The fiscal deficit is the difference between the government’s total expenditure and its total receipts excluding ______
(A) Interest
(B) Taxes
(C) Spending
(D) Borrowings
Correct Answer – (D)
Question 9:Â
What is the period of a fiscal year?
(A) 1 April to 31 March
(B) 1 January to 31 December
(C) 1 March to 28 February
(D) None of these
Correct Answer – (A)
Question 10:Â
An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as
(A) Budget
(B) Income estimates
(C) Account
(D) Expenditure
