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TN 12th Computer Applications மின் - வணிகம் Sample Question Papers Study Material - QB365 Set A

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12th Standard English Medium Economics Subject Fiscal Economics Creative 2 Mark Questions with Solution Part - I

Published on: 23/06/2021

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Std: 12th Standard - Economics

chapter: - Creative Questions

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Questions:

Generic 2

5 x 2 = 10

Write a short note on Non-Tax Revenue.

What are the classification of public revenue?

What are the subject matter of public finance?

What is meant by redemption of public debt?

What is Direct Tax?

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Answers Key:

Generic 2

5 x 2 = 10

The revenue obtained by the government from sources other than tax is called Non-Tax Revenue.
For e.g. Fees, Fine etc.

Public revenue can be classified into two types

(1) Public Revenue
(2) Public Expenditure
(3) Public Debt.
(4) Financial Administration
(5) Fiscal Policy

(i) The process of repaying a public debt is called redemption.
(ii) The government sells securities to the public and at the time of maturity, the person who holds the security surrenders it to the government.

Direct Tax:
(i) A direct tax is a tax which levied on person's income and wealth.
(ii) It is paid directly to the government.