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GST - Part 4
1
of
25
💡
Hints:
3
Q1. 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
Q2. Which trade barrier is a tax on imports?
A. tariff
B. quota
C. embargo
Q3. When was ASEANestablished?
A. 1963
B. 1967
C. 1985
D. 1996
Q4. 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
Q5. In 1962, the United States prohibited all imports and exports to and from Cuba.
A. Tariff
B. Embargo
C. Quota
Q6. 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.
Q7. What type of account is-Motor Vehicle Running Costs
A. Asset
B. Liability
C. Income
D. Expense
Q8. Contra voucher is used for recording rectifying entries.
A. TRUE
B. FALSE
Q9. 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
Q10. 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.
Q11. Financial institutions attract funds from savers by offering ___ on savings.
A. Profits
B. Revenues
C. Interest
D. Benefits
Q12. Increase $90 by 12%
A. $10.80
B. $102
C. $100.80
D. $90.12
Q13. An economic system where government makes all economic decisions
A. traditional
B. mixed
C. market
D. command
Q14. Your payslips contains tax information.
A. TRUE
B. FALSE
Q15. 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
Q16. Dengan menggunakan kaedah pembahagian berulang, GSTK bagi 21 dan 35 ialah
A. 60
B. 75
C. 90
D. 105
Q17. Money earned for working for pay
A. earned income
B. taxes
C. sales tax
D. property tax
Q18. You purchase a phone for $220 inclusive of GST. HowmuchGSTareyoupaying?
A. 22
B. 20
C. 21
D. 200
Q19. 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.
Q20. 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
Q21. 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.
Q22. What happens when supply is bigger than demand?
A. Surplus
B. Shortage
C. Inflation
D. Equlibrium
Q23. regulated by the FED
×
A. taxes
B. money supply
C. environment
Q24. PAYE is:
A. not a deduction
B. a voluntary deduction
C. contribution to health, social security and pensions
D. tax paid to the government
Q25. A tax on earned and unearned income
A. property tax
B. unearned income
C. income tax
D. community
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