34Application Based TestChapter 8 : Public Finance in India[Note : For Objectives any 4 will be asked from Q.1. to Q. 7. Situation based question will be compulsory question]Q.1. Choose the correct option.(4)[1] Obligatory functions of the Government.(a) Provision of employment(b) Maintaining internal law and order(c) Welfare measures(d) Exporting goods and servicesOptions : (1) \( c \) and \( d \)(2) a and b(3) only b(4) \( a , c \) and \( d \)Ans.[2] Definition-Public Finance is one of those subjects which are on the borderline between economics and politics given by -(a) Adam Smith(b) Alfred Marshall(c) Prof. Hugh Dalton(d) Prof. Findlay ShirrasOptions : (1) only a(2) only b(3) only c(4) only dAns.[3] Non tax revenue includes(a) Prices of public goods and services(b) Gifts, Grants and Donations(c) Goods and Service Tax (GST)(d) Fines and PenaltiesOptions : (1) a, b and d(2) \( a, b \) and \( c \)(3) \( b \) and \( d \)(4) a and cAns.[4] Examples of revenue expenditure are(a) administration cost of the government(b) huge investments in different developmental projects.(c) salaries, allowances and pensions of government employees.(d) medical and public health servicesOptions : (1) a, b and c(2) a and b(3) \( c \) and \( d \)(4) a, c and dAns.Q.2. Find the odd one.[1] Fees, Fines and penalties, Excise duty, Special levy.Ans.[2] Revenue expenditure, Capital expenditure, Labour expenditure, Developmental expenditure.Ans.[3] Public expenditure, Public park, Public revenue, Public debt. Ans.[4] Service tax, Entry tax, Entertainment tax, Wealth tax. Ans.Q.3. Complete the Correlation.[1] Direct Tax: Wealth Tax: :Excise Duty