1. Which one of the following is not included in current revenue of the Union Government?
Question Asked : SSC (10+2) Level Data Entry Operator & LDC Exam 2012
(A) Tax : revenue
(B) Non-tax : revenue
(C) Loans
(D) Interest payments
2. Interest paid by the government on the loans raised is called
Question Asked : SSC Combined Matric Level (Pre) Exam 2006
(A) Debt Servicing
(B) Deficit Financing
(C) Discounted Budgeting
(D) Bridge-loan
3. Parallel economy emerges due to
Question Asked : SSC Combined Matric Level (Pre) Exam 2002
(A) Tax : Avoidance
(B) Tax : Evasion
(C) Tax : Compliance
(D) Tax : Estimation
4. Ad Valorem tax is levied
Question Asked : SSC Combined Matric Level (Pre) Exam 2002
(A) according to value added by the Government.
(B) according to value addition to a commodity
(C) according to value given by producers
(D) according to value added by the finance ministry
5. The tax levied on gross sales revenue from business transactions is called
Question Asked : SSC Combined Matric Level (Pre) Exam 2002
(A) Turnover Tax
(B) Sales Tax
(C) Capital Gains Tax
(D) Corporation Tax
6. Beyond a certain point deficit financing will certainly lead to
Question Asked : SSC Combined Matric Level (Pre) Exam 2001
(A) inflation
(B) deflation
(C) recession
(D) economic stagnation
7. The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into
Question Asked : SSC CPO (SI, ASI & Intell1gence Officer) Exam 2011
(A) codification of tax laws
(B) the entire structure of tax laws including the question of imposition of bank tax
(C) the concerns of the foreign investors in India with regard to taxation matters
(D) aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system
8. Which of the following taxes is not collected by the Central Government?
Question Asked : SSC Tax Assistant (Income Tax & Central Excise) Exam 2007
(A) Income tax
(B) Customs duty
(C) Professional tax
(D) Excise duty
9. What is Value Added Tax (VAT)?
Question Asked : SSC Tax Assistant (Income Tax & Central Excise) Exam 2006
(A) A simple, transparent, easy to pay tax imposed on consumers
(B) A new initiative taken by the Government to increase the tax-burden of high income groups
(C) A single tax that replaces State taxes like, surcharge, turnover tax, etc.
(D) A new tax to be imposed on the producers of capital goods
10. Which of the following is not viewed as national debt?
Question Asked : SSC CPO Sub-Inspector Exam 2006, SSC Combined Graduate Level Prelim Exam 2008
(A) Life Insurance Policies
(B) Long-term Government Bonds
(C) National Savings Certificates
(D) Provident Fund
