The 'Annual Financial Statement' shows: MCQ with Answer and Explanation

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The 'Annual Financial Statement' shows:

A. only foreign debt

B. estimated receipts and expenditure of the government for a financial year

C. only tax revenues

D. only plan expenditure

Answer: Option B

Solution (By JKSSB Mock Tests)

Annual Financial Statement shows estimated receipts and expenditure.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'International Court of Justice' is located in:

A. New York

B. Vienna

C. Geneva

D. The Hague

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Correct Answer: Option D

Explanation:
ICJ is located in The Hague.

This question belongs to: Economy GK Economy Set 1

Question #2

Sustainable Development Goal 1 is related to:

A. gender equality

B. quality education

C. climate action

D. ending poverty in all its forms

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Correct Answer: Option D

Explanation:
SDG 1 aims to end poverty in all its forms everywhere.

This question belongs to: Economy GK Economy Set 1

Question #3

In accounting terms, the overall Balance of Payments always balances because:

A. exports always equal imports

B. exchange rates are fixed

C. it follows double-entry bookkeeping and official reserves adjust

D. current account equals capital account

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Correct Answer: Option C

Explanation:
The Balance of Payments always balances in accounting terms due to double-entry bookkeeping and reserve movements.

This question belongs to: Economy GK Economy Set 1

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