EPFO 2015 English Medium Solved Paper

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Directions (Q, Nos. 57-60) Each o f the next four (04) items consists of two statements, one labelled as the Statement (I) and the other as Statement (II). Examine these two statements carefully and select the answers to these items using the codes given below.

Question : 57 of 120

Marks: +1, -0

Statement (I) The effects of an income tax on consumption, saving and investment are micro effects.
Statement (II) Income Tax is an example of direct tax.

Both Statement (I) and Statement (II) are individually true and Statement (II) is the correct explanation of Statement (I)
Both Statement (I) and Statement (II) are individually true, but Statement (II) is not the correct explanation of Statement (I)
Statement (I) is true, but Statement (II) is false
Statement (I) is false, but Statement (II) is true

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