Question 766:

• JAMB 1985

A state budget is an outline of planned

A. Expenditures and revenues expected within a financial year
B. Expenditures of ministries and parastatals within a given period
C. Recurrent and capital expenditures within a year
D. Sources of revenues derivationn for a financial year
E. Use of different kinds of taxation in a given year

Question 767:

• JAMB 1985

Which of the following is NOT among the canons of taxation as set out by Adam Smith?

A. Equality
B. Security
C. Certainty
D. Convenience
E. Economy

Question 768:

• JAMB 1985

An example of a regressive tax is?

A. The personal income tax
B. The graduated corporation income tax
C. A general sales tax
D. The inheritance tax
E. The excise tax

Question 769:

• JAMB 1985

Tax which is levied on goods manufactured, sold or used within a country is?

A. Sales tax
B. Excise tax
C. Direct tax
D. Income tax
E. Poll tax

Question 770:

• JAMB 1985

By terms of trade, we mean the?

A. Ratio of exports and imports
B. Differences between exports and imports
C. Differences between current account and capital account
D. Index of export prices to import prices expressed as a percentage
E. Ratio of short-term capital movements to long-term capital movements