The modern state is

(a)

Laissez-faire state

(b)

Aristocratic state

(c)

Welfare state

(d)

Police state

One of the following is NOT a feature of private finance

(a)

Balancing of income and expenditure

(b)

Secrecy

(c)

Saving some part of income

(d)

Publicity

The tax possesses the following characteristics

(a)

Compulsory

(b)

No quid pro quo

(c)

Failure to pay is offence

(d)

All the above

Which of the following canons of taxation was not listed by Adam smith?

(a)

Canon of equality

(b)

Canon of certainty

(c)

Canon of convenience

(d)

Canon of simplicity

Consider the following statements and identify the correct ones.
(i) Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.
(ii) The Constitution also provides for transferring certain tax revenues from union list to states.

(a)

i only

(b)

ii only

(c)

both

(d)

none