Revision

Part one (public rev)

Firstly; MSQ
1) ……… forms a part of the Receipt Budget, which in turn is
part of the Annual Financial Statement of the Union Budget
and is the result of the application of a tax rate to a tax base.
a. Tax revenue
b. Direct tax
c. Indirect tax
d. Capital tax.
2) Tax revenue is the income that is gained by governments
through ………..:
a. Fees
b. Fines penalties
c. Taxation
d. None of the above
3) Merits of direct tax:
• uncertainty.
• Creates private consciousness
• inflationary
• None of the above
4) Merits (advantages) of direct tax:
• Equity
• Certainty
• Creates Public consciousness
• Relatively elastic
• all the above
5) A decrease in personal income taxes will rise :
a. Disposable income
b. Consumption spending
c. Aggregate demand
d. All the above
6) Tax base is:
a. Always expressed as some form of income.
b. An item that has a tax credit applied to it.
c. Always expressed as percentage
d. None the above
7) An example of direct tax:
a. Sales tax
b. Wealth tax
c. Central excise duty
d. All the above
8) An example or sources of direct tax:
 a. Expenditure tax
b. Fringe benefit tax
c. Interest tax
d. Securities transaction tax
e. All the above
9) Demerits (disadvantage) of Direct Taxes: -
•Tax Evasion
•Inconvenient
•Narrow Coverage
•Affects Capital formation
•all the above
10) An example of indirect tax:
a. Sales tax
b. commodity tax
c. Central excise duty
d. All the above
11) Which of the following is not an indirect tax?
a. Sales tax
b. Gift tax
c. Excise tax
d. VAT
12) Government securities consist of:
 a. Government bonds and treasury bills.
b. Corporate bonds and stocks.
c. The reverse system
d. All the above
13) The main objective of taxation is to:
a. To promote imports and exports
b. Raise revenue to the government
c. Promote employment
d. All the above
14) The incidence of a tax relies on:
a. The market structures (competition, monopoly)
b. The elasticity of demand in the market
c. The production function for the good
d. All the above
15) Merits of Indirect Taxes: -
•Universality
•Influence on Pattern of production.
•Wide coverage
•May not affect Motivation to work
and save.
•all the above
16) Demerits of Indirect Taxes
•High cost of collection
•Increase income inequalities
•Lack of Social Consciousness
• Inflationary
•all the above
17) Which of the following is not Demerits of Indirect Taxes:
a. Anti – inflationary
b. High cost of collection
c. Increase income inequalities
d. Lack of Social Consciousness
e. All the above
18) ……… is a tax levied on the value added to the product at
all stages:
a. Direct tax
b. revenue tax
c. VAT
d. Capital tax
19) Benefits of VAT: -
•Calculation of vat is easy and simple
•It reduces the tax burden
•It avoids double taxation
 •It brings more revenue to government
•all the above
20) Which of the following is not Benefits of VAT:
a. Calculation of vat is easy and simple
b. It reduces the tax burden
c. It avoids double taxation
d. It brings uniform tax structure throughout the country.
e. It increases tax evasion.
21) Which of the following are sources of non- tax: -
•Public Enterprise
• Interest receipts
•Administrative revenue
•Railways & Telegram
•all the above.
22) ……. is “Any commercial or industrial undertaking which
the government owns and manages with a view to maximize
social welfare and uphold the public interest:
a. Interest receipts
b. Public Enterprise
c. Administrative revenue
d. Railways & Telegram
23) …. are those receipts which arise because of the
administrative function of the government. Receipts from
 fees, licenses, special assessment, fines, forfeitures,
escheats, are included under administrative revenue.
A. Interest receipts
b. Public Enterprise
c. Administrative revenue
d. Railways & Telegram
24) ….. any amounts other than Principal Receipts or
Extraordinary Interest Amounts that are actually received or
recovered by or on behalf of the Issuer in respect of the
payments made pursuant to the Repackaged Loan Agreement
on a Loan Interest Payment Date, but excluding any amounts
receivable:
a. Interest receipts
b. Public Enterprise
c. Railways & Telegram
d. None the above
25) …. Railroads earn their inland revenue primarily
from passenger and freight traffic.
• Interest receipts
•Administrative revenue
•Railways & Telegram
•Currency & mint
26) …. A mint is an industrial facility which manufactures coins
that can be used as currency. In modern mints, coin dies are
manufactured in large numbers and planchets are made into
milled coins by the billions.
• Public Enterprise
• Interest receipts
•Administrative revenue
•Railways & Telegram
•Currency & mint
27) Sources of capital receipts:
a. Internal and external borrowings
b. small savings
c. Provident funds
d. Loan recovery
e. public deposits
f. all the above.
28) …… When revenue Mobilized through tax and non-tax
sources is insufficient to meet its expenditures, the central
government will try to mobilize income.
a. non tax revenue
b. Capital receipts
c. Tax revenue
d. none the above
 29) which of the following is not true of public budget:
a. It refers to the policies of the government
b. It reflects the programs of the government
c. A budget contains only proposals of taxation
d. All the above.
30) the shared burden of taxation on consumer and producer
implies:
a. Elastic supply and demand
b. Inelastic supply and elastic demand
c. Inelastic supply and demand
d. None the above
31) the objective of taxation by the government are:
a. Raising revenue for the state
b. To maintain economic stability
c. To remove the disparities in the distribution of income
d. All the above
32) an increase in the direct tax means it is:
a. Anti-inflationary
b. Inflationary
c. Having no impact on price
 d. All the above.
33) Monetary policy is related to:
a. Money supply
b. Managing foreign trade
c. Planning for economic development
d. Government revenue and expenditures
34) generally, the nature of direct tax is:
a. Progressive
b. Regressive
c. Proportional
d. All of the above
35) Fiscal policy is related to:
e. Money supply
f. Managing foreign trade
g. Planning for economic development
h. Government revenue and expenditures
36) the tax on net income of companies is:
a. Personal income
b. Corporation income
c. Wealth income
37) increased government spending financed by government
borrowings will generally cause:
a. An increase in interest rates
b. An expansion of the economy
c. Inflationary effect
d. All of the above
38) progressive tax:
a. Taxes a larger percentage of income from high income
people than from low-income people.
b. Taxes the same percentage of income from low-income
people than from low-income people.
c. Taxes the same percentage of income from high income
people than from low-income people.
d. Taxes a larger percentage of income from low-income
people than from high-income people.
e. None of the above
39) which of the following is a regressive tax:
a. Sales tax
b. Social security tax
c. Property tax
d. None of the above
40) consider replacing the current Egyptian tax system with a
proportional tax in which everyone would pay a constant
fraction of their wages, and there would be no other taxes.
Compared to the current personal tax system:
a. The proportional tax would increase the amount of
personal saving
b. The proportional tax would make the tax system less
progressive than it now.
c. The proportional tax would increase the number of hours
people work.
d. All of the above
e. None of the above
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41) generally, the nature of indirect tax is:
a. Progressive
b. Regressive
c. Proportional
d. All of the above
42) pick out the factor which is not a features of indirect taxes:
a. Convenience
b. Tax evasion is difficult
c. Fair to the poor
43) Bastable’s classification:
a. Direct Revenue
b. Derivative Revenue
c. Anticipatory Revenue
d. None of the above
44) Bastable’s classification:
a. Revenue Received by the Government through Various
state functions.
b. Revenue Received By the State by its own capacity.
c. Revenue Received by the individuals through Various
state functions.
d. All of the above.
e. A and B only
45) ….. The category includes all the income which the state
derives from public enterprises like Rail. Road. Post &
Telegraph.
a. Direct Revenue
b. Derivative Revenue
c. Anticipatory Revenue
d. None of the above
46) The Income Derived from the Public is Grouped under
this category. Example: Taxes. Fees, Fines Penalties etc.
 a. Direct Revenue
b. Derivative Revenue
c. Anticipatory Revenue
d. None of the above
47) it includes income from the sale of bond or other forms of
commercial Revenue:
a. Direct Revenue
b. Derivative Revenue
c. Anticipatory Revenue
d. None of the above
48) Selingman’s classification:
a. Gratuitous Revenue
b. Contractual Revenue
c. Compulsory Revenue
d. All the above
49) …… It is a revenue which is received by the state without any
cost. Example: Gifts
a. Gratuitous Revenue
b. Contractual Revenue
c. Compulsory Revenue
d. None the above
50) …… are those revenues which are derived by the
government in the form of tax, fee, fine; etc.
a. Gratuitous Revenue
b. Contractual Revenue
c. Compulsory Revenue
d. None the above
51) It is a revenue received by the state as a result of the sale of
commodities and services by the government to the people:
a. Gratuitous Revenue
b. Contractual Revenue
c. Compulsory Revenue
d. None the above
52) Dalton’s classification:
a. Tax
b. Price
c. Cost
d. A and B
53) …… is compulsory charge imposed by public authonity:
a. Price
b. Purchasers
c. Taxes
54)……. are paid voluntarily by private persons, who
enters into contracts with authorities:
a. Prices
b. Tax
c. Revenue
d. None of the above
55) Ideal classification: are Prof. Findlay Shirras classification
public income into two categories
a. Tax Revenue
b. Non – Tax Revenue
c. Public expenditures
d. A and B
56) Taylor’s classification:
a. Gifts and Grants
b. Administrative Revenue
c. Commercial Revenue
d. Taxes
57) …. financial assistant provided by one government to
another:
a. Gifts and Grants
b. Administrative Revenue
c. Commercial Revenue
d. None of the above
58)…… Revenue received by the state by performing
administrative functions. For Example; fees, fine, penalty;
a. Gifts and Grants
b. Administrative Revenue
c. Commercial Revenue
d. None of the above
59) …… revenue received by the government in the form of
prices paid for government produced goods and serves; for
example; tuition fee paid in public education institution:
a. Gifts and Grants
b. Administrative Revenue
c. Commercial Revenue
d. None of the above
60) …… is most logical and scientific and
since to be quite useful from the practical point of view:
a. Taylor’s classification
b. Dalton’s classification
c. Selingman’s classification
d. All of the above
61) Prof. JK Mehta’s classification:
a. Tax
b. Fee
c. Duty
d. All the of above
62) …… a levy, which has the object of discouraging the
consumption of goods and services performed by the state:
a. Tax
b. Fee
c. Duty
63) if the object is to discourage the production or the use of
commodities produced by private agencies or functions
performed by such agencies, the levy has been called as…..
a. Tax
b. Fee
c. Duty

64) when the object is to obtain money for the finance of

services (production of goods included), the levy should be
regarded as……
a. Tax
b. Fee
65) …… is shifted by the payer to
other. If sales tax is imposes on sugar, the producer or
dealer who pays it passes it on to the next buyer and
ultimately the burden is borne by the consumer:
a. Direct Tax
b. Indirect tax
c. Fees
d. Special assessment
66) ……. a tax is said to be direct, if the tax payer
bears the burden of the tax. He cannot shift the
burden to any other person.
a. Direct Tax
b. Indirect tax
c. Fees
d. Fines
67) …… is not a voluntary payment it is a compulsory payment:
a. Fees
b. Fines
c. Escheats
d. Forfeitures
68) the government can impose some levy on these …… to
recover a part of expenses incurred:
 a. Special assessments
b. Fines
c. Fees
d. Forfeitures
69) ……. Punishment imposed for infringement of
law.
a. Special assessments
b. Fines and penalties
c. Fees
d. Forfeitures
70) …. It refers to the penalty Imposed By courts for the
failure of individuals to appear in the court.
a. Special assessments
b. Fines and penalties
c. Fees
d. Forfeitures
71) …..are not important sources of public revenue:
a- Forfeitures, Fines and penalties
b- fees
c- special assessment
d- none of the above
72) …… are the claims of the government to the property of a
person who dies without having any legal heirs or without
keeping a will:
a. Special assessments
b. Fines and penalties
c. Fees
d. Forfeitures
e. Escheats
73) which of the following are not exist in Non – Tax Revenue
sources:
a. Fees
b. Special Assessments
c. Fines and Penalties
d. Forfeitures
e. Service and sales taxes

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