1141. These are principal of Taxation :

A. Principal of equality
B. Principal of certainty
C. Principal of secrecy
D. Both A and B *

1142. In Pakistan. Taxes are levied by :

A. Prime minister of pakistan
B. President of Pakistan
C. Federal cabinet of ministers
D. National assembly *

1143. Which of the following tax is best example of ability to pay principal of taxes :

A. Excise tax on cigarettes
B. Highway toll tax
C. Proportional sales tax
D. Personal income tax *

1144. Government taxing and spending policies are called :

A. Monetary policy
B. Fiscal policy *
C. Commercial policy
D. Finance policy

1145. Government budget is balanced when :

A. Government expenditure outstrips tax receipts
B. Government tax receipts outsrips expenditure
C. Government expenditure equals tax revenue *
D. None of the above

1146. Government finance is called :

A. National Finance
B. Public Finance *
C. Private Finance
D. None of the above

1147. How the government can meet its expenditure :

A. By Taxing people
B. By borrowing from banks and other governments
C. By printing new money
D. By all the three methods *

1148. The government can collect funds from :

A. Taxes
B. Fees
C. Prices of public goods
D. All of the above *

1149. A direct tax is that which :

A. Is heavy burden on the tax payers
B. Can be straightforwardly stored in the banks
C. Cannot be evaded
D. Is paid by the individual on whom it is exacted *

1150. In Pakistan government budget is prepared by :

A. National Assembly
B. President of pakistan
C. Ministry of finance *
D. State bank of pakistan