Question : What is the main source of revenue for most governments?
Option 1: Personal income taxes
Option 2: Corporate income taxes
Option 3: Sales taxes
Option 4: Property taxes
Correct Answer: Personal income taxes
Solution : The correct answer is (a) Personal income taxes
Personal income taxes tend to be one of the primary sources of revenue for governments. They are typically levied on the income earned by individuals and can be progressive, meaning that higher-income individuals are subject to higher tax rates. Personal income taxes are often collected through payroll deductions from employees' salaries or through annual tax returns filed by individuals.
Question : Which year marked the third general election in India?
Option 1: 1952
Option 2: 1957
Option 3: 1962
Option 4: 1967
Question : The main source of revenue for 'not for profit' organisation is:
Option 1: Sale of goods
Option 2: Sale of periodicals
Option 3: Subscription from members
Option 4: Sale of assets
Question : All those elements which create liability and decrease the assets of government are known as
Option 1: Capital Receipts
Option 2: Capital Payments
Option 3: Revenue Receipts
Option 4: Revenue Payments
Question : In which of the first three general elections did the Congress party face the least competition?
Option 1: First
Option 2: Second
Option 3: Third
Option 4: Competition was equal in all three
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