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5Points Quiz

Objectives of a tax system include the following except

        A.   to prevent corruption

        B.   to promote fiscal responsibility and accountability

        C.   to address inequalities in income distribution

        D.   to correct market failures and imperfections

Answer: A

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The material wealth of a society is equal to the sum of

        A.   all financial assets

        B.   all real assets

        C.   all financial assets and real assets

        D.   all physical assets

Answer: B

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For bad debts to be deductible, the following requisite must concur except

        A.   there must be a valid a subsisting debt

        B.   the debt must be connected with tax payer's trade or business

        C.   the debt must partially charged-off with in the taxable year

        D.   the debt must be actually worthless

Answer: C

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By hedging a portfolio, a bank manger

        A.   reduces interest rate risk

        B.   increases reinvestment risk

        C.   increases exchange rate risk

        D.   increases the probity of gains

Answer: A

For More Quiz Questions click here to download Global Quiz on Google PlayStore


For More Quiz Questions click here to download Global Quiz on Google PlayStore


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