1161. This is not a principle of taxation :

A. Principal of equality
B. Principal of certainty
C. Principle of secrecy *
D. Principal of economy

1162. This is principal of taxation :

A. Principal of honesty
B. Principal of morality
C. Principal of secrecy
D. Principal of economy *

1163. 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

1164. This tax is a good 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 *

1165. 40% of income of federal government obtained from :

A. Income tax
B. Excise tax
C. Import tax
D. Sales tax *

1166. An indirect tax is one where :

A. Tax is levied on wealth
B. Tax is levied always on products
C. The same points of impact and incidence exist.
D. Points of impact and incidence are different *

1167. The most important source of income of a government is :

A. Foreign loans
B. Taxes *
C. Printing of new money
D. Sale of government property

1168. Progressive taxes :

A. Increase government revenue
B. Bring equality in distribution of incomes
C. Act as penalty for rich people
D. Both A and B *

1169. It is direct tax :

A. Property tax
B. Income tax
C. Import tax *
D. All of these

1170. Hamza Software Co. paid import duty and imported computers. Taxes will be levied on:

A. Importer
B. Wholesaler
C. Last buyer *
D. Retailer