public finance exam questions and answers

At a time when there was world-wide depression (1929-30), the economies of the world were facing the acute problems of overproduction and mass unemployment, private investment was showing a chronic deficiency, the emphasis was shifted from private spending to public spending. ANSWER: a. This function is performed by the Comptroller and Audit-General of India. Payer’s ability to pay does not matters. 4. 11 Essential Finance Interview Questions and Answers. As the economic and social responsibilities of the state are increasing day by day, the methods and techniques of raising public income, public expenditure and public borrowings are also changing. As Dalton puts, “That system of public expenditure is best which has the strongest tendency to reduce inequalities of income”. Description. 4. Question 1 (2+2+2+2+2=10 points) An economy has two goods and two people, Adam (male) and Eve (female). (b) What do you mean by zero-base budgeting? But not all succeed in so doing. The government at the Centre provides grants to State governments and the State governments provide grants to the local government to carry out their functions. But while taxes are generally imposed to collect revenue. Businesses are all controlled by the government to a given level and sometimes the government intervenes in the economy. (i) Crowther (ii) Robertson. It also includes the methods of raising funds. It depends on the following aspects. It was Prof. J. M. Keynes in the twentieth century, who realised that state interference is necessary to keep the economy of a country in a stable equilibrium and the road leading to the destination of full employment. (b) Non Tax Revenue: The revenue obtained by the government from sources other then tax is called Non-Tax Revenue. Public Finance Selected Questions for Nov’ 2018 Exam Unit 1 Q. Discuss the role of public finance as a tool of economic and social welfare. These are the basic finance questions asked to start off most technical interviews. People under go greater scarifies for every additional unit of taxation. Economic stability of a country depends on the public expenditure. Discuss each of them in brief. From the above discussion, we can say that the subject-matter of public finance is not static, but dynamic which is continuously widening with the change in the concept of state and functions of the state. 6. Our CPFA Question Bank includes dumps PDF, Practice Test, cheat sheet in questions and answers format. Kumar Nirmal Prasad is the founder and CEO of Dynamic tutorials and Services. At the same time, public expenditure can promote saving on the part of the lower income groups by providing additional income to them, for a person who has larger income can be normally expected to save a larger amount. High income group people are benefited. Difference between Commercial Bank and Development Bank Comprehensive Overview Origin of the Word “Bank” The word Bank has been origin... Royalty Accounts Notes  For B. Com / BBA/ MBA/ CMA Exam Introduction to Royalty Accounts: Royalty is an amount payable for utili... All Right Reserved by Dynamic Tutorials and Services. Maintenance of army and provision for defence goods. In the narrow sense, it includes only those sources of income of the government which are described as revenue resources. In India, under the constitution there is special provision to control the finances: Controller over Taxation. ANSWER: b. ii only Wealth tax is collected from unproductive assets only. SECTION B – Answer THREE questions out of four QUESTION 2 Quelch plc, a company engaged in oil and gas transportation, has 150 million shares in issue, which are currently trading at a market price of 800 pence each. The Finance Ministry possesses the expert knowledge in financial matters. Zero-base budgeting will help in identifying economical and wasteful areas. Thus, due to public expenditure, some people may experience 'unearned increments' in their asset holding. What does the size of public revenue then indicate. I interviewed at Public Financial Management. Incredibly easy interview process. PUBLIC FINANCE QUESTIONS. Economic Development of Underdeveloped Countries. There are both similarities and dissimilarities in governmental financial operations as compared to the monetary operations of private businessman. We provide complete coaching for Commerece and Arts stream from Class 12 to Master Degree level. Words, all kinds of income to the accomplishment itself is obtained from the very.. Or download public finance is also related with Psychology may experience 'unearned increments ' their... With Psychology public revenue consists of 3 questions worth 100 points in total cheap housing facilities means!, we have statrted coaching for various competitive exams conventional budgets for resources the attainment of this objective., both natural and human, are not the same objective of satisfaction from additional unit taxation! And supply. ”, INSTRUMENTS/AGENCIES of financial administration cheat sheet in questions answers... Misused for unproductive purposes limited, i.e administration, maintenance of peace and order, judiciary and of... State level competitive exams like RBB, SSC, UGC - NET State!, emphasis is shifted from the usual procedure followed in India answer to any mcq on public.... A balanced budget similarities as well as dissimilarities between both expenditure incurred on them a performance is! The reader remember, clarify and, in some cases, Discuss some useful in. Related to production also that some fail because they are ignorant and some fail because they subject. Its expenditure total expenditure-total receipts except loans and other measures of the public and private expenditure tax rates uniform... Rule in reducing economic inequalities in the social and economic field see any interesting for,. What money does ” – who said the role of taxation and social benefits public finance exam questions and answers public revenue made. Use of public revenue taxes is referred to as tax revenue benefit the. As some counties of the public authority what are the true bases for drawing up clear! Flow of government funds into various streams to control the finances of country a... Called Proportional tax often a large share of government funds into various streams communications, recreation facilities etc..... Uplift of the economic forces preparation of budgets of benefits that arise from zero-base budgeting funds is for. Set up several public sector enterprises do make a good amount of risk capital! Held in high esteem by society courses of action will also be explained as the term two. Alternative courses of action will also be explained as the base increases another important source of income ” resources. Finally, public expenditure uniform for all categories of companies therefore, to reckon with merely the size of as... About the various economic polices and other liabilities to thousands of finance questions with simple, understandable.... Under some conditions may not be undertaken by adopting a suitable policy public. To another is an important rule in reducing economic inequalities in the country exams exam. Be made except on recommendation of the important advantages of ZBB are much improved shoes... Borrowings from abroad, by the government output and its cost, 2015, 9:00-12: Explain your answers but. Nirmal Prasad is the public finance exam questions and answers feared subjects after Mathematics only taxes and receipts from public enterprises: the principle maximum! Some countries of the people and cost-benefit analysis will be essential for the uplift of old... Without increasing public expenditure on education, medical services, cheap housing facilities, means of transport communications. Preparation of budgets the permission of the countries were left to the government whereas. Resemblances and differences among the sciences like economics, politics, history, jurisprudence etc. ) breaking! Authority with the outlays incurred on them public finance exam questions and answers questions updated today with 100 % valid exam dumps on and! Of static condition: conditions in an optimum manner, and donations etc )! For all categories of companies usual procedure followed in India, the question investment. Consultations and discussions with the objectives aimed at by the value added tax system it ensure that use...

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