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.
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MCQ Questions Class 12 Government Budget and the Economy with Answers - Set - 2
Question 1:Â
Which is included in the Direct Tax?
(a) Income Tax
(b) Gift Tax
(c) Both (a) and (b)
(d) Excise Duty
Correct Answer – (C)
Question 2:Â
Which is a component of the Budget Receipt?
(a) Revenue Receipt
(b) Capital Receipt
(c) Both (a) and (b)
(d) None of the above
Correct Answer – (C)
Question 3:Â
Which objectives government attempts to obtain by Budget
(a) To Promote Economic Development
(b) Balanced Regional Development
(c) Redistribution of Income and Wealth
(d) All the above
Correct Answer – (D)
Question 4:Â
Direct tax is called direct because it is collected directly from:
(A) The producers on goods produced
(B) The sellers on goods sold
(C) The buyers of goods
(D) The income earners
Correct Answer – (A)
Question 5:Â
The non-tax revenue in the following is:
(A) Export duty
(B) Import duty
(C) Dividends
(D) Excise
Correct Answer – (C)
MCQ Questions Class 12 Government Budget and the Economy With Answers
Question 6:Â
Tax revenue of the Government includes :
(a) Income Tax
(b) Corporate Tax
(c) Excise Duty
(d) All of these
Correct Answer – (D)
Question 7:Â
Which is a component of Budget?
(a) Budget Receipts
(b) Budget Expenditure
(c) Both (a) and (b)
(d) None of the above
Correct Answer – (C)
Question 8:Â
Financial Year in India is:
(a) April I to March 31
(b) January 1 to December 31
(c) October 1 to September 30
(d) None of the above
Correct Answer – (A)
Question 9:Â
The primary deficit in a government budget will be zero, when _______
(A) Revenue deficit is zero
(B) Net interest payments are zero
(C) Fiscal deficit is zero
(D) Fiscal deficit is equal to interest payment
Correct Answer – (D)
Question 10:Â
Borrowing in the government budget is:
(A) Revenue deficit
(B) Fiscal deficit
(C) Primary deficit
(D) Deficit in taxes
