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 - 5
Question 1:
Which of the following are the objectives of government budget?
(a) Redistribution of income wealth
(b) Economic stability
(c) GDP growth
(d) all of these
Correct Answer – (D)
Question 2:
Which of the following is a non-tax receipt?
(a) Gift tax
(b) sales tax
(c) donations
(d) Excise duty
Correct Answer – (C)
Question 3:
In the context of government budget, which of the following statements is correct?
(a) Budget is a statement of expected annual receipts and expenditures of the government
(b) It is the detail of actual receipts and expenditures of the government in a financial year
(c) It offers a detailed description of achievements of the government during the five year plans
(d) It indicates BoP status of the domestic economy
Correct Answer – (A)
Question 4:
From the following which is included in the direct tax:
(a) Income Tax
(b) Gift Tax
(c) Both (a) and (b)
(d) Excise Tax
Correct Answer – (C)
Question 5:
Budget speech in Lok Sabha is given by:
(a) President
(b) Prime Minister
(c) Finance Minister
(d) Home Minister
Correct Answer – (C)
MCQ Questions Class 12 Government Budget and the Economy With Answers
Question 6:
Capital receipt is that receipt of the government which:
(a) creates a liability
(b) reduces the assets
(c) both (a) and (b)
(d) neither la) nor (b)
Correct Answer – (C)
Question 7:
The difference between fiscal deficit and interest payment is called:
(a) revenue deficit
(b) primary deficit
(c) budget deficit
(d) capital deficit
Correct Answer – (B)
Question 8:
Who issues 1 rupee note in India:
(a) Reserve Bank of India
(b) Finance Ministry of India
(c) State Bank of India
(d) None of these
Correct Answer – (C)
Question 9:
Professional tax is imposed by:
(a) Central Government
(b) State Government
(c) Municipal Corporation
(d) Gram Panchayat
Correct Answer – (B)
Question 10:
Budget is presented in the Parliament by:
(a) Prime Minister
(b) Home Minister
(c) Finance Minister
(d) Defence Minister
