Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Government Budget and Economy

Question:

Choose the correct pair:

Options:

A-1

B-2

C-3

D-4

Correct Answer:

D-4

Explanation:

Sales tax is an indirect tax. Capital receipts either create liability or reduce an asset. Capital expenditure either create an asset or reduce o liability. Gift tax is a direct tax.