Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test With Answers

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Principles of Economics Icom Part 1 English Medium Chapter 13 Online Test

Sr. # Questions Answers Choice
1 Payment of zakat is compulsory for ----------- living in Islamic Country Every person Every Muslim Only Poor Muslim Only Sahib-e-Nisab Muslim
2 What type of nature of Zakat is Fixed Non fixed Elastic Changes along with the change in income
3 Usher is levied on Cash amount Goats and sheep Trading goods Agricultural production
4 On which amount Zakat is payable Twenty thousand rupees On the amount equal to the value of 7.5 tola gold or 52.5 tola silver On fifty thousand rupees On one lac rupees
5 Zakat can not be given to get slaves free To the collection of zakat For the construction of Mosque The converts
6 Zakat is part of the present income 20th 30th 40th 50th
7 Which one of the following is direct tax Sales tax Import duty Export duty Income tax
8 Which one of the following is indirect tax Income tax Property tax Wealth tax Sales tax
9 If the rate of tax increase with the increase of level of income, is called Progressive tax Proportional tax Regressive tax Value added tax
10 If the rate of tax does not change with decrease or increase in the level of income, is called Proportional tax Progressive tax Regressive tax value added tax
11 If a person does not pay the amount of the tax from his own pocked on whom it is levied rather shifts its barden on some other person, then it is called Direct tax Indirect tax Proportional tax Progressive tax
12 If the person has to pay the tax on whom it is levied, then it is called Direct tax Indirect tax Proportional tax Progressive tax
13 Total number of canons of taxation stated by different economists is Seven Nine Eleven Twelve
14 One of the following is not included in the public expenditures Courts Fee Public administration Defence
15 One of the following is not included in the sources of public revenue Tax Fee Defence Fines
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