{"id":10237,"date":"2024-07-11T10:15:42","date_gmt":"2024-07-11T09:15:42","guid":{"rendered":"https:\/\/mcqsadda.com\/?p=10237"},"modified":"2024-07-17T12:02:06","modified_gmt":"2024-07-17T11:02:06","slug":"budget-set-1","status":"publish","type":"post","link":"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/budget-set-1\/","title":{"rendered":"Budget Set &#8211; 1"},"content":{"rendered":"\n<h1 class=\"wp-block-heading has-text-align-right has-vivid-purple-color has-text-color has-link-color has-larger-font-size wp-elements-29b27cd7a581817f81f936baf51e2a81\">Prev       <strong><a href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/budget-set-1\/\">1<\/a>        2        3        4       <a title=\"\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/05\/06\/noun-set-5\/\"> <\/a>5<\/strong>       Next<\/h1>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-green-cyan-background-color has-background has-text-align-left wp-element-button\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/budget-quiz-1\/\">mock test<\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. <strong><strong><strong>This &#8216; Annual Financial Statement&#8217; constitutes the main _________ document of the government.<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Expenditure<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B.  Report<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Economy<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Budget<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: D.Budget<BR>\nSOLUTION :Annual Financial Statement is the main Budget document and is commonly referred to as the Budget Statement.<\/p>\n<\/div>egin\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2. The receipts and expenditure that relate to the current financial year only are included in the revenue account called ________.<\/strong><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A. Capital Budget<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Revenue Budget<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Static Budget<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Variance Budget<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER:B.Revenue Budget<BR>\nSOLUTION: \nA budget document that deals with the revenue receipts (income) and revenue expenditure (expenses) of the government for a specific financial year is called the &#8220;Revenue budget.&#8221;<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>3. The receipts and expenditure that concern the assets and liabilities of the government into the capital account is called _______<\/strong>.<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. &nbsp;Capital budget<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. &nbsp;&nbsp;Revenue budget<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. &nbsp;Static budget <\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Variance budget <\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER : A.Capital budget<BR>\nSOLUTION: \nAll those receipts of the government which create liability or reduce financial assets are termed as capital receipts.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. <strong>Which of the following statements is true about the primary deficit in a government\u2019s budget?<\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. The primary deficit is zero when the revenue deficit is zero<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. The primary deficit is zero when the net interest payments are zero<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. The primary deficit is zero when the fiscal deficit is zero<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. The primary deficit is zero when the fiscal deficit is equal to the interest payment<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: D.The primary deficit is zero when the fiscal deficit is equal to the interest payment<BR>\nSOLUTION: \nThe primary deficit is zero when the fiscal deficit is equal to the interest payment.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5. &nbsp;<strong><strong>What is the duration of a financial year?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. October 1st to September 30th<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. April 1st to March 30th<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C.  &nbsp;January 1st to December 30th<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. None of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: B.April 1st to March 30th<BR>\nSOLUTION: \nA Financial Year (FY) is the 12 month period between 1 April and 31 March \u2013 the accounting year in which you earn an income.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>6. &nbsp;<strong><strong><strong>Which of the following statements about the capital budget is accurate?<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A.  The capital budget consists of direct and indirect tax<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. The capital budget consists of capital expenditure and capital receipts<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. The capital budget consists of revenue expenditure and revenue receipts<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. The capital budget consists of direct taxes<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: B.The capital budget consists of capital expenditure and capital receipts<BR>\nSOLUTION: \nThe capital budget consists of capital expenditure and capital receipts<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>7. Which of the following statements describes the function of a budget?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. It is a description of the income and expenditure of a government<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B.  It is a document containing details of the economic policy of a government<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. It is a description of the programs of the government<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: D.All of the above<BR>\nSOLUTION :\nAll of the above\n<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>8. &nbsp;<strong><strong><strong>Which of the following statements is true about an unbalanced budget?<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. In an unbalanced budget, the expenditure is relatively higher than income<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. In an unbalanced budget, the income is greater than the expenditure<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. In an unbalanced budget, the deficit gets covered either by loans or by printing notes<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Only a and c are correct<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER:D.Only a and c are correct<BR>\nSOLUTION:\nIn an unbalanced budget, the expenditure is relatively higher than income &#038; In an unbalanced budget, the deficit gets covered either by loans or by printing notes. <\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>9. What is the name of the process under which the government starts to sell its securities to the private sector?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Disinvestment<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Monetary expansion<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Open market operations<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. All of the above<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: A.Disinvestment<BR>\nSOLUTION: \nWhen the government offers a stake in its enterprise to private investors, it is known as disinvestment.\n<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>10. <strong><strong>Which of the following items is an example of capital expenditure undertaken by the government?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>A. Subsidies and defence services expenditure<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>B. Construction of roads and repayment of loans<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>C. Both a and b are correct<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>D. Both a and b are incorrect<\/strong><\/h3>\n\n\n\n<button class=\"acc\">ANSWER &#038; SOLUTION<\/button>\n<div class=\"pnl\">\n  <p>ANSWER: B.Construction of roads and repayment of loans<BR>\nSOLUTION:\nConstruction of roads and repayment of loans\n<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-green-cyan-background-color has-background has-text-align-left wp-element-button\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/budget-quiz-1\/\">mock test<\/a><\/div>\n<\/div>\n\n\n\n<h1 class=\"wp-block-heading has-text-align-right has-vivid-purple-color has-text-color has-link-color has-larger-font-size wp-elements-29b27cd7a581817f81f936baf51e2a81\">Prev       <strong><a href=\"https:\/\/mcqsadda.com\/index.php\/2024\/07\/11\/budget-set-1\/\">1<\/a>        2        3        4       <a title=\"\" href=\"https:\/\/mcqsadda.com\/index.php\/2024\/05\/06\/noun-set-5\/\"> <\/a>5<\/strong>       Next<\/h1>\n","protected":false},"excerpt":{"rendered":"<p>Prev 1 2 3 4 5 Next 1. This &#8216; Annual Financial Statement&#8217; constitutes the main _________ document of the government. A. Expenditure B. Report C. Economy D. Budget ANSWER &#038; SOLUTION ANSWER: D.Budget SOLUTION :Annual Financial Statement is the main Budget document and is commonly referred to as the Budget Statement. egin 2. The<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[5654,5655,5646,4029,5649,5652,5491,5490,5489,5493,5497,5498,5494,5495,5496,5492],"class_list":{"0":"post-10237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economics","7":"tag-economics-mcqs-for-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-exams","8":"tag-economics-mcqs-for-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-examsin-kannada","9":"tag-exam-veda","10":"tag-mcqs-adda","11":"tag-mcqs-for-pc-psi-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-exams","12":"tag-mcqs-for-pc-psi-sda-fda-pdo-vao-banking-kas-ias-ssc-gd-ssc-chsl-ssc-cgl-for-all-compitative-examsin-kannada","13":"tag-the-receipts-and-expenditure-that-concern-the-assets-and-liabilities-of-the-government-into-the-capital-account-is-called-_______","14":"tag-the-receipts-and-expenditure-that-relate-to-the-current-financial-year-only-are-included-in-the-revenue-account-called-________","15":"tag-this-annual-financial-statement-constitutes-the-main-_________-document-of-the-government","16":"tag-what-is-the-duration-of-a-financial-year","17":"tag-what-is-the-name-of-the-process-under-which-the-government-starts-to-sell-its-securities-to-the-private-sector","18":"tag-which-of-the-following-items-is-an-example-of-capital-expenditure-undertaken-by-the-government","19":"tag-which-of-the-following-statements-about-the-capital-budget-is-accurate","20":"tag-which-of-the-following-statements-describes-the-function-of-a-budget","21":"tag-which-of-the-following-statements-is-true-about-an-unbalanced-budget","22":"tag-which-of-the-following-statements-is-true-about-the-primary-deficit-in-a-governments-budget"},"_links":{"self":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/comments?post=10237"}],"version-history":[{"count":2,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10237\/revisions"}],"predecessor-version":[{"id":10440,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/posts\/10237\/revisions\/10440"}],"wp:attachment":[{"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/media?parent=10237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/categories?post=10237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mcqsadda.com\/index.php\/wp-json\/wp\/v2\/tags?post=10237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}