Finance | MCQs

Explanation

In Islam, khums literally 'one-fifth'

refers to the required religious obligation of any Muslim to pay 20% of their acquired wealth from certain sources toward specified causes.

It is treated differently in Shia and Sunni Islam.

Explanation

Muhammad Aurangzeb is the the current Minister for Finance and Revenue.

Muhammad Aurangzeb is a Pakistani banker.

Appointed since 11 March 2024

Explanation

1. Jizya: A tax historically levied on non-Muslims living under an Islamic state, in exchange for protection and exemption from military service. It has no connection to prisoners.

2. Fidya: Compensation for failing to fulfill certain obligations like fasting. This is unrelated to imprisonment.

3. Ashar: A tithe (1/10th tax) on agricultural produce, unrelated to prisoners.

In Islam, prisoners are generally entitled to humane treatment and are not burdened with taxes for their captivity.

If there are costs incurred by a prisoner (e.g., restitution for crimes), this would be part of the judicial process and not termed as a "tax."

Explanation

Muzamil Aslam is a Pakistani politician who is the Provincial Minister of Khyber Pakhtunkhwa for Finance. 

Party affilitaion: PTI

Appointed in March 2024

Explanation

• The rupee is the currency of Pakistan
• ***
• The first currency note issued by the State Bank of Pakistan was in the denomination of Rs 2
• Brandley designed the first coin of Pakistan in 1948.
• Pakistan’s first coin was issued on 3rd January 1948
• The government of Pakistan issues currency on the basis of the Availability of gold in the country
• ***
• "enge" is the currency of which country Kazakhstan
• Ringgit is the currency of Malaysia.
• New Zealand Dollar is the currency of New Zealand.
• US dollar is the currency of the USA.
• Bhat is the currency of Thailand
• won is the Currency of South Korea 
• Hryvnia is the Currency of Ukraine
• The dollar is the currency of the United States of America.
• Euro is the currency of Austria and Cyprus
• Kyat is the currency of which country Myanmar

Explanation

Explanation

Mujtaba Shuja Ur Rehman is the current Minister for Finance of Punjab

Belonging: Lahore

Party affiliation: Pakistan Muslim League (Nawaz)

Appointed on: 6th March 2024

Explanation

Dispose is always followed by of.

Of is a preposition here.

Dispose of means چھٹکارا حاصل کرنا

Dispose of means ہٹادینا

I have disposed of my car. 

Explanation

Insolvent means دیوالیہ

Explanation

National Assembly passed the Finance (Supplementary) Bill, 2021, termed widely as a “mini-budget on 13 January 2022.

The House also passed the State Bank of Pakistan (Amendment) Bill 2021 on 13-01-2022.