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General Financial Rules(GFR) 2017 CHAPTER 10: BUDGETING AND ACCOUNTING OF EXTERNALLY AIDED PROJECTS MCQ

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The projects or schemes of the Government of India to be implemented through external aid receipt from multilateral or bilateral funding agencies shall be approved(a) Parliament through budget proposal(b) Parliament separately from budget proposal(c) Ministry of Finance(d) President of India Answer Answer: A To finance specific project(s) by the funding agency(ies) under Government to Government … Read more

CHAPTER 9: GRANTS-IN-AID AND LOANS

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As a general principle Grants-in-aid can be given to a person or a public body or an institution having a(a) distinct legal entity (b) sound financial position(c) credible performance record (d) substantial working force AnswerAnswer: A No new autonomous institutions should be created by Ministries or Departments without the approval of the(a) Parliament (b) President(c) … Read more

GFR 2017 Chapter 7: Inventory MCQ

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GFR 2017 Chapter 7: Inventory MCQ Who should certify that he has actually received the material and recorded it in the appropriate stock registers?(a) The Store-keeper (b) The cashier(c) The officer-in-charge of stores (d) The head of office Answer Answer: C Pick the incorrectly matched Option Particular Form in which maintained a Fixed Assets such … Read more

CHAPTER 4: GOVERNMENT ACCOUNTS

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Works which add capital value to existing assets but do not create new assets are called(a) Original Works (b) Repair Works(c) Minor Works (d) Contingent Works Answer Answer: C New constructions, site preparation, additions and alterations to existing works, special repairs to newly purchased or previously abandoned buildings or structures, including re-modelling or replacement are … Read more