Public Revenue — Practice Quiz
ICSE · Class 10 · Economics
Try a 4-question quiz on Public Revenue for ICSE Class 10 Economics: tap an answer to check it and see why. 45 questions in the full chapter test.
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What is public revenue?
What does 'No Quid Pro Quo' mean in taxation?
Which of the following is an example of commercial revenue?
What is GST?
Sample Questions
Which of the following are sources of public revenue?
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Taxes, Commercial revenues, Administrative revenues, Gifts and grants
All these are legitimate sources of public revenue except private company profits, which belong to private entities, not the government.
A tax is a compulsory payment to the government.
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True
A tax is indeed a compulsory payment imposed by the government. Citizens cannot refuse to pay taxes, and non-payment leads to legal action.
Income tax is an example of which type of tax?
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Direct tax
Income tax is a direct tax because it is paid by the same person on whom it is imposed and cannot be shifted to others.
Which taxes can have their burden shifted to others?
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Indirect taxes
Indirect taxes like excise duty and sales tax can be shifted from producers to consumers through higher prices, while direct taxes cannot be shifted.
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