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GST - Part 4
1
of
25
💡
Hints:
3
Q1. regulated by the FED
×
A. taxes
B. money supply
C. environment
Q2. What type of account is-Motor Vehicle Running Costs
A. Asset
B. Liability
C. Income
D. Expense
Q3. When was ASEANestablished?
A. 1963
B. 1967
C. 1985
D. 1996
Q4. According to the chart, what do household exchange in the Product market for f inished products?
×
A. Consumption Expenditures
B. Cost
C. Goods and services
D. Productive Resources
Q5. In 1962, the United States prohibited all imports and exports to and from Cuba.
A. Tariff
B. Embargo
C. Quota
Q6. A change in interest rates by the government or central bank, e.g Indonesian Central Bank
A. Export policy
B. Trade policy
C. Fiscal policy
D. Monetary policy
Q7. Why do wepay taxes in our country?
A. Tomake our Government rich.
B. To provide for Public Goods and Services.
C. To provide for Goods and Services.
Q8. laws to control monopoly power and to preserve and promote competition
A. Clayton Antitrust Act
B. Sherman Antitrust Act
C. anti-trust laws
D. Federal Trade Commission
Q9. International transportation is;
A. Exempt from GST
B. subject to GST at 6%
C. subject to GST at 12%
D. subject to GST at 12% for persons other than Maldivians.
Q10. Dengan menggunakan kaedah pembahagian berulang, GSTK bagi 21 dan 35 ialah
A. 60
B. 75
C. 90
D. 105
Q11. Money earned for working for pay
A. earned income
B. taxes
C. sales tax
D. property tax
Q12. The central board of Excise and Customs (CBEC) has recently announced that ___ will be observed as GST Day?
A. 14th June
B. 1st July
C. 11TH June
Q13. An economic system where government makes all economic decisions
A. traditional
B. mixed
C. market
D. command
Q14. Contra voucher is used for recording rectifying entries.
A. TRUE
B. FALSE
Q15. Financial institutions attract funds from savers by offering ___ on savings.
A. Profits
B. Revenues
C. Interest
D. Benefits
Q16. What happens when supply is bigger than demand?
A. Surplus
B. Shortage
C. Inflation
D. Equlibrium
Q17. Which trade barrier is a tax on imports?
A. tariff
B. quota
C. embargo
Q18. PAYE is:
A. not a deduction
B. a voluntary deduction
C. contribution to health, social security and pensions
D. tax paid to the government
Q19. Increase $90 by 12%
A. $10.80
B. $102
C. $100.80
D. $90.12
Q20. The balance of the Accumulated Depreciation account represents:
A. anon-current liability
B. a cash fund accumulated to replace worn-out or obsolete non-current assets
C. an expired cost of the non-current assets purchased in previous accounting periods
D. an operating expense of the business.
Q21. Export
A. Selling things to another country for a porfit.
B. Giving things to another country for free.
C. Purchasing things from another country.
D. Getting things from another country.
Q22. You purchase a phone for $220 inclusive of GST. HowmuchGSTareyoupaying?
A. 22
B. 20
C. 21
D. 200
Q23. Your payslips contains tax information.
A. TRUE
B. FALSE
Q24. A tax on earned and unearned income
A. property tax
B. unearned income
C. income tax
D. community
Q25. In my country we have no need for money. By custom, some of us hunt, others farm, and we are all taken care of.
A. Traditional
B. Command
C. Market
D. Mixed
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