21. Which of the following is/are the types of tax?
a. Direct tax
b. Indirect tax
c. Proportional tax
d. Progressive tax
e. Regressive tax
f. Value Added Tax
g. AOT
22. When government launches its budget?
a. Quarterly
b. Biannually
c. Annually
d. NOT
23. __________ is the tax which is levied on the income or profit of that person who pays himself?
a. Indirect tax
b. Direct tax
c. Both a and b
d. NOT
24. Income tax, wealth tax corporate tax are the examples of _________?
a. Direct tax
b. Indirect tax
c. Both a and b
d. NOT
25. _______ the kind of tax where the incidence and impact of taxation does not fall on the same person or entity?
a. Indirect tax
b. Direct tax
c. Income Tax
d. NOT
26. Sales tax, custom duty, and excise duty are ________ kind of taxes?
a. Direct
b. Indirect
c. Both a and b
d. NOT
27. ________ is the tax which is increased with the increase in income?
a. Regressive tax
b. Progressive tax
c. Proportional tax
d. NOT
28. ______ tax is levied with the same percentage for all people?
a. Progressive tax
b. Regressive tax
c. Proportional tax
d. NOT
29. ________ tax brings equality in distribution of incomes and enhances government revenue?
a. Progressive tax
b. Regressive tax
c. Both a and b
d. NOT
30. _______ Tax is also known as Flat tax
a. Progressive tax
b. Value added tax
c. Proportional tax
d. Both a and c