71. Under Article 284 of the Constitution of India, all money received by or deposited with any officer employed in connection with the affairs of the Union in his capacity as such, other than revenues or public money raised or received by the Government, shall be paid into:
(a) The Consolidated Fund.
(b) The Contingency Fund.
(c) The Current Account.
(d) The Public Account.
(a) The Consolidated Fund.
(b) The Contingency Fund.
(c) The Current Account.
(d) The Public Account.
Answer: (d)
72. Who among the following should obtain liability statement in Form GFR 6-A, from the spending authorities, every month, starting from October in each financial year, in order to maintain proper control over expenditure?
(a) Secretary of the Ministry
(b) Controlling Officer
(c) Financial Adviser
(d) Chief Auditor
(a) Secretary of the Ministry
(b) Controlling Officer
(c) Financial Adviser
(d) Chief Auditor
Answer: (b)
73. Which of the following statements are correct?
1. The estimates for expenditure for which vote of the Lok Sabha is required are prescribed in the form of Demands for Grants
2. More than one Demands for Grants can be presented by a Ministry / Department
3. The main Demand for Grants is presented to the Parliament by the Ministry of Finance and the Detailed Demands for Grants are laid on the Table of the Lok Sabha by the Ministries / Departments concerned
4. One of the functions of the Departmentally Related Standing Committees of the Parliament is to consider the Detailed Demands for Grants
1. The estimates for expenditure for which vote of the Lok Sabha is required are prescribed in the form of Demands for Grants
2. More than one Demands for Grants can be presented by a Ministry / Department
3. The main Demand for Grants is presented to the Parliament by the Ministry of Finance and the Detailed Demands for Grants are laid on the Table of the Lok Sabha by the Ministries / Departments concerned
4. One of the functions of the Departmentally Related Standing Committees of the Parliament is to consider the Detailed Demands for Grants
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
Answer: (d)
74. ‘Vote on Account’ can be obtained to cover expenditure:
(a) only for one month at a time.
(b) for a maximum of two months.
(c) till the completion of the procedure for the passing of the budget.
(d) for any period as may be necessary in accordance with the provisions of the Constitution of India.
(a) only for one month at a time.
(b) for a maximum of two months.
(c) till the completion of the procedure for the passing of the budget.
(d) for any period as may be necessary in accordance with the provisions of the Constitution of India.
Answer: (d)
75. Consider the following statements:
1. Savings out of budgetary allocations can be held in reserve with the approval of the Ministry of Finance
2. Rush of Expenditure in the closing months of the financial year is not regarded as a breach of financial propriety if the budgetary allocation is not exceeded
3. Funds can be reappropriated from a unit with the intention of restoring the diverted appropriation to that unit when savings become available under other units later in the year
1. Savings out of budgetary allocations can be held in reserve with the approval of the Ministry of Finance
2. Rush of Expenditure in the closing months of the financial year is not regarded as a breach of financial propriety if the budgetary allocation is not exceeded
3. Funds can be reappropriated from a unit with the intention of restoring the diverted appropriation to that unit when savings become available under other units later in the year
Which of the above statements is / are NOT correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (d)
76. Which one of the following statements is NOT correct?
(a) Government accounts are prepared on cash basis
(b) The transactions in Government Accounts represent the actual cash receipts and disbursements during a financial year
(c) Government Accounts are required to reflect amounts due to, or by the, Government during a financial year
(d) All foreign currency transactions are brought into the account after conversion into Indian Rupees
(a) Government accounts are prepared on cash basis
(b) The transactions in Government Accounts represent the actual cash receipts and disbursements during a financial year
(c) Government Accounts are required to reflect amounts due to, or by the, Government during a financial year
(d) All foreign currency transactions are brought into the account after conversion into Indian Rupees
Answer: (c)
77. Expenditure on account of reparation of the damage caused by enemy action is to be charged to:
(a) Capital or Revenue or both, as decided by the Government.
(b) Contingency Fund of the Union.
(c) Contingency Fund of the State concerned.
(d) Public Account.
(a) Capital or Revenue or both, as decided by the Government.
(b) Contingency Fund of the Union.
(c) Contingency Fund of the State concerned.
(d) Public Account.
Answer: (a)
78. Inter-Governmental adjustments relating to a particular financial year can be carried out till the:
(a) 31st of March of that year.
(b) 15th of April of the ensuing year.
(c) 30th of April of the ensuing year.
(d) date specified by the Controller General of Accounts every year.
(a) 31st of March of that year.
(b) 15th of April of the ensuing year.
(c) 30th of April of the ensuing year.
(d) date specified by the Controller General of Accounts every year.
Answer: (b)
79. The powers of various subordinate authorities to accord administrative approval for works are:
(a) regulated by the Delegation of Financial Powers Rules, 1978.
(b) given in the General Financial Rules, 2005.
(c) notified by the Central Public Works Department every year.
(d) notified by the Ministry of Finance every year.
(a) regulated by the Delegation of Financial Powers Rules, 1978.
(b) given in the General Financial Rules, 2005.
(c) notified by the Central Public Works Department every year.
(d) notified by the Ministry of Finance every year.
Answer: (a)
80. Which one of the following statements is NOT correct in relation to disposal of stocks?
(a) A ministry or department may undertake auction of stores directly
(b) If the selected bidder does not lift the stores, the auctioned stores can be resold with the consent of the defaulter
(c) The team constituted to conduct the auction must include a representative of the internal finance wing
(d) Acceptance or rejection of a bid should be announced immediately on the stroke of the
hammer on completion of the auction process
(a) A ministry or department may undertake auction of stores directly
(b) If the selected bidder does not lift the stores, the auctioned stores can be resold with the consent of the defaulter
(c) The team constituted to conduct the auction must include a representative of the internal finance wing
(d) Acceptance or rejection of a bid should be announced immediately on the stroke of the
hammer on completion of the auction process
Answer: (b)
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