Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting MCQs

Question:

The purview of public finance is considered to be threefold: governmental effects on

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A: efficient allocation of resources
B: distribution of income
C: macroeconomic stabilization
D: All of these
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
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MCQs related to Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting

Question:

Who is Tax payer?

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A: Businessman
B: Trust
C: Assessee
D: Farmer
Answer: C
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

Government policies that focus on changing taxes and government spending are called:

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A: Fiscal policies
B: Monetary policies
C: Incomes policies.
D: Supply-side policies.
Answer: A
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

Which of the following is involved with fiscal policy?

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A: Income tax
B: National insurance
C: VAT
D: All of these
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

In Pakistan, the authority to levy taxes lies with:

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A: Prime minister of Pakistan
B: President of Pakistan
C: Federal cabinet of ministers
D: National assembly
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

An expansionist fiscal policy could include:

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A: Lower interest rates
B: Increased lending by the banks
C: An increase in corporation tax
D: An increase in discretionary government spending
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

The purview of public finance is considered to be threefold: governmental effects on

www.pkmcqs.com

A: efficient allocation of resources
B: distribution of income
C: macroeconomic stabilization
D: All of these
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

Progressive taxes are:

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A: Increase government revenue
B: Bring equality in distribution of incomes
C: Compel rich people to be honest
D: Both a & b
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

This tax is a good example of ability to pay principle of taxes:

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A: Highway toll tax
B: Excise tax on cigar
C: Proportional sales tax
D: Personal income tax
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

Which is a principle of taxation?

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A: Principle of honesty
B: Principle of morality
C: Principle of secrecy
D: Principle of economy
Answer: D
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com

Question:

The most important source of income of a government is:

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A: Taxes
B: Sale of government property
C: Sprinting of new money
D: Foreign loans
Answer: A
Central Superior Services (CSS) -> Group A -> Accountancy and Auditing -> Financial Accounting Tayyab Shami
www.pkmcqs.com