GST is equivalence of

(a)

Sales tax

(b)

Corporation tax

(c)

Income tax

(d)

Local tax

The direct tax has the following merits except

(a)

equity

(b)

convenient

(c)

certainty

(d)

civic consciousness

Which of the following is not a tax under Union list?

(a)

Personal Income Tax

(b)

Corporation Tax

(c)

Agricultural Income Tax

(d)

Excise duty

"Revenue Receipts" of the Government do not include

(a)

Interest

(b)

Profits and dividents

(c)

Recoveries and loans

(d)

Rent from property

The difference between revenue expenditure and revenue receipts is

(a)

Revenue deficit

(b)

Fiscal deficit

(c)

Budget deficit

(d)

Primary deficit

Give two examples for direct tax.

What are the components of GST?

What do you mean by public debt?

Mention any three similarities between public finance and private finance.

What are the functions of a modern state?

Mention any three methods of redemption of public debt.

Explain the principles of Federal Finance.

What are the reasons for the recent growth in public expenditure?