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
B.Assessee
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

NOTE
IF YOU THINK ANY OF THE MCQ ABOVE IS WRONG.
PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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