SPONSORED: Preparing to Sit for an Exam? Study and Practice with Ulearngo

Home » Past Questions » English Language » The main source of -1- (A. Production B. Revenue C .development D. capital) to t...

The main source of -1- (A. Production B. Revenue C .development D. capital) to t...

Question

The main source of -1- (A. Production B. Revenue C .development D. capital) to the government is -2-(A. planning B. budgeting C. Taxation .investment),which can be direct or indirect. while the former is based on one’s -3-(A. income B. profits C. services D. wealth),the latter is imposed on goods and -4-(A. re-numeration B. surpluses C. resources D. services) and it is paid only we these are -5- (A. supplied B. produced C. distributed D. bought) other sources includes -6- (A. compensation B. Benefits C. gratitude’s D. loyalties) such as those paid by mining companies, and sales of -7- (A. charges B. duties C. bills D. licenses ) for dogs,guns,hotels, etc .another major source is -8- (A. investment B. banking C .interest D. borrowing ) which is different from the other because it as to be repaid. From these and other sources, government is able to raise -9-(A. loans B. capitals C. money D. grant) with which it carries out its -10- (A. jobs B. necessities c. investments D. functions), which include administration and the -11- (A. settlement B. provision C. embarking D. commitment) of social services. Besides, it is able to control the country’s -12- (A. accounts B. budgets C. prices D. economy) by imposing taxes sometimes to prevent -13-(A. deflation B. monopoly C. inflation D. depression) or by altering pattern of -14- (A. consumption B. production C. development D. growth) through the raising of -15- (a. subsidy B. discount C. commission D. duty) against certain foreign goods.

Read the passage carefully and answer the question labeled 3.

Options

A)
Income
B)
Profit
C)
Services
D)
Wealth

Related Lesson: Types of Comprehension Questions | English Lexis and Structure

The correct answer is A.

Explanation:

This question is asking about the main source of income for the government. The passage explains that the main source of income for the government is taxation, which can be direct or indirect. Direct taxation is based on one's income, while indirect taxation is imposed on goods and services and is paid only when these goods and services are bought. Other sources of income for the government include compensation paid by mining companies, sales of licenses for dogs, guns, hotels, etc., and borrowing.

The question specifically asks about one's income, profits, services, and wealth, and the correct answer is income. This is because the passage explains that direct taxation is based on one's income, while indirect taxation is imposed on goods and services. Therefore, income is the main source of taxation for the government.

To further clarify related topics, the passage explains that the government is able to raise money with which it carries out its functions, which include administration and the provision of social services. Additionally, the government is able to control the country's economy by imposing taxes to prevent inflation or by altering the pattern of production through the raising of duty against certain foreign goods.

In summary, the correct answer to the question labeled 3 is income, as it is the main source of direct taxation for the government.

Share Tweet Email WhatsApp
Like

More Past Questions:

Dicussion (1)

  • Nigerian Scholars Follow5 years ago

    The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments. For a wage earner, gross income is the amount of salary or wages paid to the individual by an employer, before any deductions are taken. For a wage earner, net income is the residual amount of earnings after all deductions have been taken from gross pay, such as payroll taxes and retirement plan contributions

    Reply
    Like
Add Math