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

    expense
    asset
    liability
    income
  • “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?

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

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

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

    value added tax
    import duty
    excise duty
    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 ______.

    custom duty
    local tax
    excise duty
    value added tax
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