For purpose of financial control, the grants allotted to each major head of accounts is divided into(a) Financial unit (b) Primary unit(c) Objective Unit (d) Detailed unit Answer Answer: B Government accounts are kept in three parts. Pick the incorrect one(a) Consolidated Fund of India (b) Contingency Fund of India(c) Public Account (d) Emergency Fund … Read more
The annual Finance Accounts and Appropriation Accounts (FA&AA) are prepared by the respective Accountants General in the states and Union Territories with legislatures with the exception of(I) Goa (II) Delhi (III) Puducherry (IV) Daman & DiuFind the correct ones-A. I & II B. II & IV C. I, II & III D. All The audit … Read more
The distinguishing factor between fraud and error is-A. MisinterpretationB. IntentionC. Involvement of various partiesD. Degree of benefit Fraud depending upon involvement of members may be-A. management fraudB. employee fraudC. either of the aboveD. None of the above The advantage/benefit due to fraud to an individual or a group of individuals will be-A. tangibleB. notionalC. presumptiveD. … Read more
Audit & Accounts Regulations MCQ 1. The Audit and Accounts Regulations has been issued in pursuance of a. Section 21 of the DPC Act b. Section 22 of the DPC Act c. Section 23 of the DPC Act d. Section 24 of the DPC Act 2. The Audit and Accounts Regulations apply to … Read more
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