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GST - Part 3
1
of
25
Q1. Highways, airports and fire/police protection are examples of
A. property taxes
B. public goods and services
C. payroll taxes
D. private goods and services
Q2. Answer the question.
×
A. French
B. French Fries
C. Fila
D. Fila French
Q3. Which is an example of a quota?
A. The U.S. stops trade with China.
B. TheU.S. limits the amount of foreign cars brought into our country.
C. The U.S. pays a high tax on BMW cars brought into the country.
Q4. Suresh Enterprises sells goods on credit to his customers for an amount upto 5,00,000. This amount is called as
A. Credit Limit
B. Budget
C. Cost centre
D. Interest
Q5. Josh bought some magical beans $25 excluding GST based on the original price with a discount of 50%. How much did they initial cost and should he have bought them?
A. $55 and yes he should have bought
B. $55andnoheshouldnothavebought them
C. $55.50 and yes he should have bought them
D. $55.50 and no he should not have bought them
Q6. a required payment to a local, state, or national government.
A. income tax
B. tax
C. price stability
D. expenditure
Q7. ___ Files the Return with Form ___ to Income tax Department.
A. Decutor,16A
B. Deductor,27Q
C. Deductee,16A
D. Deductor,26Q
Q8. A machine that allows individuals to complete certain transactions from machine without human assistance
A. Savings tool
B. Automated teller machine
C. commercial bank
D. online banking
Q9. The number of structures in India’s GST model is?
A. 6
B. 4
C. 3
D. 5
Q10. Which ONE of these is NOT an economic indicator?
A. Unemployment rate
B. Economic growth rate
C. Liveabiliy
D. Infrastructure
Q11. Refunds would be allowed on a provisional basis in case of refund claimsin case of zero rated supply of goods and services made by aregistered persons. At what percentage, would such provisional refunds be granted?
A. 90%
B. 80%
C. 70%
D. 65%
Q12. Article ___ framed GST council
A. 279
B. 279A
C. 278
D. 277
Q13. What does the term "demand" mean?
A. the money citizens pay the government based on their income
B. materials from nature used to produce goods and services
C. the total amount of goods and services that customers will buy at a certain price
Q14. Taxes should be file by ___ 15th in order to not pay any late penalties.
A. January
B. April
C. September
D. December
Q15. The economy is the total of all activities for the purpose of
A. producing, marketing and selling goods and services in a country
B. creating, designing and exploring goods and services in a country
C. producing, distributing and consuming goods and services in a country
D. producing, distributing and selling foods and services in a country
Q16. John earned $750 during the week. However, he is required to pay 5% of his earnings to national insurance and $5 to union dues. What is John’s net pay?
A. $707.50
B. $792.50
C. $712.50
D. $692.50
Q17. Taxes paid by anyone who owns property such as land, a home or commercial real estate
A. property taxes
B. estate taxes
Q18. Tax Invoice must be issued by ___ ?
A. Registered perons not paying tax undar composition scheme
B. Every Suppliers
C. Every Taxable persons
D. All of the above
Q19. The price of one currency in terms of another currency
A. Exchange rate
B. Depreciation
C. Inflation
D. Recession
Q20. According to the chart, what do businesses do with the productive resources they purchase?
×
A. makefinishedgoods and services and sell them in the product market
B. makefinished goods and services and sell them in the factor market
C. make productive resources and sell them in the product market
D. use them to gain a tax credit with the government
Q21. Women are charged an extra ___% more than men for basic goods and services.
A. 70
B. 10
C. 15
D. 9
Q22. "Allow components list details ( Bill of Materials)" option is activated for
A. Ledgers
B. Cost Category
C. Stock Items
D. Budgets
Q23. Federal program that supports healthd expenses
A. medicare
B. medicaid
C. both medicare and medicaid
D. neither medicare and medicaid
Q24. More taxes will affect to ___
A. farmers
B. small business
C. workers
D. all are correct
Q25. All of the following are public goods and services EXCEPT
A. Highways
B. National defense
C. Street lights
D. These are all public goods
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