671. Income from Capital gains arising out of trading on a stock strange in Pakistan is taxable these days:
A. True
B. False

672. Conversion Cost is calculated as under:
A.LabourPlus Materials
B.Labour plus overheads
C. None of these

673. Current Ratio can be calculated as under:
A. Current Liabilities/Current Assets
B. Current Assets/Current Liabilities
C. None of these

674. Government policies that focus on changing taxes and government spending are called:
A. Fiscal policies
B. Monetary policies.
C. Incomes policies.
D. Supply-side policies.

675. Who is Tax payer?
A. Businessman
C. Trust
D. Farmer

676. The most important source of income of a government is:
A. Foreign loans
B. Sprinting of new money
C. Sale of government property
D. Taxes

677. Progressive taxes:
A. Increase government revenue
B. Bring equality in distribution of incomes
C. Compel rich people to be honest
D. Both a & b

678. Which is a principle of taxation?
A. Principle of honesty
B. Principle of morality
C. Principle of secrecy
D. Principle of economy

679. In Pakistan, the authority to levy taxes lies with:
A. Prime minister of Pakistan
B. President of Pakistan
C. Federal cabinet of ministers
D. National assembly

680. This tax is a good example of ability to pay principle of taxes:
A. Excise tax on cigarettes
B. Highway toll tax
C. Proportional sales tax
D. Personal income tax