Government Receipts and Expenditures
Government Receipts and Expenditures: Overview
This topic covers concepts, such as Tax Revenues of the Central Government, Expenditure of the Central Government, Expenditures of State Governments, Revenue Expenditure, and Capital Expenditure.
Important Questions on Government Receipts and Expenditures
Which one of the following will be treated as revenue expenditure?
Which one of the following is a Revenue expenditure?
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
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
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
As per Economic Survey , Formality as defined by Social Security is , while formality if defined using GST data is:
Capital budget consist of:
The expenditures which do not create assets for the government is called :
Which is a component of Budget?
In the budget, which type of expenditure is expenditure on land ?
Which one of the following statements is incorrect ?
Borrowings are equivalent to :
Escheats is an example of :
Total expenditure on national defence in India is categorized as
Administrative revenue includes which of the following ?
Which of the following is not a non-tax revenue receipt ?
In , state and local governments spend _____ of their spending on combined elementary and secondary education.
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.
Define Expenditure Budget.
The _____ revenue is charged on income earned by an entity.
