EASY
Earn 100
Which among the following is/are not the source of revenue of the Central Government?
50% studentsanswered this correctly
Important Questions on Government Receipts and Expenditures
MEDIUM
The government policy related to its revenue and expenditure is called:
MEDIUM
Bombay Stock Exchange became the first stock exchange in India to launch commodity derivatives contract in gold and ____.
EASY
The percentage of deposits which a bank must keep as cash reserves with itself is known as ________.
MEDIUM
In India, approximately what percentage of households still use firewood for cooking as per Census?
MEDIUM
As per the estimates of Union Budget , how much investment is needed in Railway Infrastructure during ?
EASY
The _____ revenue is charged on income earned by an entity.
EASY
Which of the following statements is correct about the budget?
I. It is a statement of financial position for the future period, establishing the proposed expenditure and the means of financing it.
II. Article 111 of the constitution requires the government to present to Parliament the details of projected receipts and expenditure in respect of each financial year.
EASY
Which of the following is not a non-tax revenue receipt ?
EASY
Borrowings are equivalent to :
EASY
Match List I (Financial statements and Account) with List II (Special matters associated with statements and accounts) and select the correct answer using the codes given below the List:
List I
I. Receipt and Payments
II. Income and Expenditure Account
III. Dividend Equalisation Reserve
IV. Club subscription received in Advance Account
List II
A. Revenue
B. Cash
C. Liability
D. Balance Sheet
E. General Reserve
Codes:
I II III IV
EASY
Match List I with List-II and select the correct answer using the codes given below the List:
| List-I (Accounting concept) | List-II (Principle involved) |
| I. Consistency | A. Losses are anticipated and accounted for in advance but profits are not accounted for until realised. |
| II. Comparability | B. All the relevant financial information should be summarised and presented in the accounting statements. |
| III. Conservatism | C. Accounting procedures in an entity should be followed uniformly from period to period. |
| IV. Disclosure | D. Accounting statement of different periods of an entity and those of different entities of a period should be based on the same accounting principles and procedures. |
| E. Personal judgement of accountants should not influence accounting measurement. |
Codes- I, II, III, IV
EASY
Which of the following is not included in government debt issuances?
EASY
Define Expenditure Budget.
EASY
Which is the government's major contributor to revenue expenditure as of ?
EASY
Administrative revenue includes which of the following ?
EASY
Match List I (Items of expenditure and Receipt) with List II (Nature of expenditure and receipt) and select the correct answer using the codes given below the lists:
List I
I. Compensation paid to retrenched workers of the factory for the loss of service
II. Legal expenses incurred in connection with
III. Compensation received from the government
IV. Sale proceeds of merchandise (goods)
List II
A. Capital expenditure
B. Capital receipt the purchase of a plot of land
C. Revenue expenditure for the compulsory removal of business premises to another place
D. Revenue receipt
Codes:
I II III IV
EASY
An annual statement of the estimated receipts and expenditure of the government over the fiscal year is known as:
(A) Budget
(B) Income estimates
(C) Account
(D) Expenditure
EASY
The difference between revenue expenditure and revenue receipt is _____.
EASY
Which among the following statement is/are true regarding revenue expenditure and capital expenditure?
I. Capital expenditure enhances the value of an existing asset whereas revenue expenditure does not.
II. Capital expenditure is for the short term whereas revenue expenditure is for the long term.
Choose the codes below.
EASY
In , state and local governments spend _____ of their spending on combined elementary and secondary education.
