Practice Test | Kullabs.com
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  • Tax is a ______ of a person or an organization to the state or government.

    liability
    income
    asset
    expense
  • “Taxation is the compulsory payment made by a person or organization to the government to meet the expenses incurred in the common interest of the people and nation without getting any special benefit.” Who gave this definition?

    Giilspie and Lewis
    Taylor Shirley
    M.N. Mishra
    Seligman
  • Which one of them is the objective of taxation?

    All the options are correct
    To increase the employment, saving and investment of the country
    To minimize regional disparity
    To control the production of specific goods
  • A tax which is collected directly from the individuals and organizations on the basis of their incomes and properties is known as ______.

    import duty
    direct tax
    export duty
    indirect tax
  • A tax which is levied while manufacturing or selling or consuming goods and services is known as ______.

    excise duty
    import duty
    value added tax
    custom duty
  • The tax which is imposed by the local government like Village Development Committee, Municipality, Metropolitan City and District Development Committee is known as ______.

    local tax
    value added tax
    custom duty
    excise duty
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