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

Question

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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

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Which of the following is a major objective of the World Trade Organisation?

A. Promoting free and fair trade among nations

B. Maintaining exchange rate stability

C. Providing short-term BOP support

D. Providing development loans

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Correct Answer: Option A

Explanation:
The WTO aims to promote free and fair international trade by reducing trade barriers, settling disputes and providing a framework for trade negotiations.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on tobacco products is:

A. 12%

B. 18%

C. 0%

D. 28% plus cess

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Correct Answer: Option D

Explanation:
Tobacco products attract 28% GST plus additional cess.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Stand-Up India' scheme was launched in which year?

A. 2016

B. 2018

C. 2017

D. 2014

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Correct Answer: Option A

Explanation:
Stand-Up India was launched in 2016.

This question belongs to: Economy GK Economy Set 1

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