INTRODUCTIN TO INDIAN GOVERMENT ACCOUNTS AND AUDIT QUESTIONS 01
1 Who is the Head of the Indian Audit and Accounts Departments?
(A) Controller General of Accounts
(B) Comptroller and Auditor General of India
(C) Chairman, Niti Ayog
(D) Finance Minister
2 Who is responsible for compiling the accounts of Kerala State?
(A) Comptroller and Auditor General of India
(B) Controller General of Accounts
(C) Director of Treasuries
(D) None of these
3 To whom the CAG submits his Audit Report containing the results of audit of accounts of a State to be laid before the Legislature?
(A) President
(B) Governor
(C)The Speaker
(D) Finance Minister
4 In terms of which Sections of the DPC Act, the CAG is responsible for audit of transactions of various government departments and organizations?
(A) 13,16 and 17
(B) 10,11 and 12
(C) 11.12 and 13
(D) Section 11
5 The responsibility of preparation of accounts of Union Government is now vested with whom?
(A) Comptroller and Auditor General
(B) Controller General of Accounts
(C) Niti Ayog
(D) None of these
6. The overall responsibility of coordination and control over finances of the Government in the States is confined to whom?
(A) State Finance Department
(B) Ministry of Finance
(C) Reserve Bank of India
(D) Accountant General
7. The process of distribution of funds for the purpose of maintaining sufficient funds in all the treasuries at all times, to meet the demands on them is referred to as
(A) Resource Operations
(B) Budget allocations
(C) Re-appropriation
(D) None of these
8. CAG reports cases of waste, loss, extravagant or nugatory expenditure to which of the following?
(A) The Government
(B) The Legislature
(C) The Vigilance
(D) None of these
9 Which of the following statements relating to stamp duty is NOT true?
(A) Stamp duties are levied by the Government of India
(B) Stamp duties are collected by the States
(C) Stamp duties are retained by the States
(D) Fifty percent of the stamp duties collected by each State are passed over to Central Government
10. To whom, the Auditors of a company after examination of the books of accounts report whether in his opinion those accounts give a true and fair view of the state of affairs of the company and of its profit or loss or in what respect they fail to do so?
(A) To the Directors
(B) To the Shareholders
(C) To the Finance Manager
(D) None of these
(A) Details of Salary details for each month communicated after payment of salary
(B) salary certificate issued to Gazetted officers for presenting to bank etc for various purposes
(C) An intimation to the officer concerned and to the officer in charge the treasury at which he draws his pay, specifying the amount which he may draw in accordance with the order of Government
(D) None of these
12 Which among the following is NOT the responsibility of Commercial Audit Organization of Indian Audit and Accounts Department The Organization is responsible for:
(A) Audit of transactions of Government Companies/Corporation which finds final expression in an Annual Audit Report bringing out selected topics of interest relating to them
(B) In-depth performance appraisals of selected Companies/ Corporations; each such appraisal takes the form of a separate Audit Report
(C) Preparation of a report on systems deficiencies reported by Chartered Accountants on the basis of directions by the Comptroller and Auditor General
(D) Authorizing pay and allowances of officers and staff of public sector undertakings
13 Who is responsible for preparing the pension papers of Government servants?
(A) Accountant General
(B) Head of the Office from where the Government servant retires
(C) By the Government servant himself
(D) None of these
14.Framing financial rules and orders is the function of the following?
(A) Executive Government
(B) Audit
(C) Subordinate to Executive Government
(D) None of these
15 Which among the following is NOT Non-tax revenue of the State Government?
(A) Revenue from sale of forest produces
(B) Agricultural income tax
(C) Gross revenue from State Transport Corporation
(D) Dividend from State Commercial Enterprises Interpretation of law so far as tax matters are concerned16. The interpretation of law so far as tax matters are concerned is a ……………….function
(A) Executive
(B) Judicial
(C) Legislative
(D) Audit
17 For what purpose ‘Works Abstract' is maintained in PWD?
(A) To record in detail the cash, stock and other charges on each work whether carried out by departmental agency or contract
(B) To record the name of all works undertaken by a division in a financial year
(C) To record the names of all works undertaken by a division
(D) None of these
18 Issue of stores in a Priced Stores Ledger is posted from which record?
(A) The transfer entry note
(B)The delivery Challan
(C) The indent
(D)The Goods Received Sheet
19 Final decision as to what items of plants are to be depreciated and distributed is decided by whom?
(A) The Executive
(B) The Audit
(C) The Legislature
(D) None of these
20. The issue rate of an article of stock fixed at the beginning of each year normally remains constant throughout the year but in certain situations the issues rates can be revised earlier. Which of the following is one such situation?
(A) During the period of natural calamities
(B)When there is material fluctuation in the purchase rates during the course of the year
(C) When the contractor requests in writing to revise the rate of the article
(D) None of these
21 Which among the following is NOT true in relation to the audit of the accounts of corporations, companies and of autonomous bodies by CAG of India?
(A) No law of a State Legislature can cast any duties any powers on the Comptroller and Auditor General or his representatives.
(B) The duties and powers of the Comptroller and Auditor General prescribed by law made by Parliament cannot be superseded or abridged by or under any law made by any State Legislature
(C) The State Government can give directions to CAG in regard to audit of the accounts of corporations, companies and other autonomous bodies coming under its jurisdiction
(D) All the above
22. In respect of a State Government Company, copy of the Audio Report and any comments thereon or supplement thereto made by the Comptroller and Auditor General are places before which of the following?
(A) Reserve bank of India.
(B)Board of Directors of the Company
(C) Comptroller and Auditor General of India
(D)The Legislature :
23 Who appoints the Chairman of the Public Accounts Committee?
(A) The Speaker
(B) The President
(C) The Prime Minister
(D) None of these
24. Who is the head of the Union Council of Ministers?
(A) President
(B) Prime Minister
(C) Home Minister
(D) None of these
25. The Public Accounts Committee of Parliament consists of how many members?
(A) 22
(B) 15
(C) 30
(D) 7
26 How many Ministers will be there in the Committee on Public Undertakings in Parliament?
(A) 3
(B) 1
(C) 0
(D) None of these
27. Who prepares the combined Finance and Revenue Accounts?
(A) Ministry of Finance
(B) The Comptroller and Auditor General
(C) Department of Finance of the respective State
(D) Accountant General of the State
28 Estimates Committee of Parliament consists of how many members?
(A) 22
(D) 7
(C) 30
(B) 15
29 The State Audit Reports are countersigned by whom?
(A) The Accountant General of the State
(B) Finance Minister of the State
(C) Governor of the State
(D) Comptroller and Auditor General
30 Which among the following is out of scope of the functions of the Public Accounts Committee of State Legislature?
(A) Examination of the accounts showing the appropriation of sums granted by the Legislature for the expenditure of the Government, the annual finance accounts of the Government and such other accounts laid before the Legislature as the Committee may think fit.
(B) Looking into cases of loss, inefficiency, ineffectiveness or extravagance and calls upon the Government to explain what action, disciplinary or otherwise, it has taken to prevent recurrence :
(C) Examination with reference to the facts of each case the circumstances leading to excess in expenditure of the money granted by the Legislature and makes such recommendation as it may deem fit.
(D) Examination of Audit Reports relating to such Public Undertakings as is allotted to the Committee on Public Undertakings
31. How many Major Heads are there under Part II-Contingency Fund?
(A) 2
(B) 3
(C) 6
(D) 1
32 What does the term 'bin card' mean in regard to store documents in PWD?
(A) A value-cum-numerical account of the stores held
(B) A chronological record by quantity only of the receipts, issue and the remaining balances of each article of stock cording quantity details of the indents for
(C) A document for recording quantity details of the intends for materials received from various ocers(D) None of these
33 Which of the following records is generally NOT maintained in a PWD Sub Division office?
(A) Cash book
(B) Muster roll
(C) Works abstract
(D) Contractor's ledger
34 Who are the Members of State Public Accounts Committee
(A) Members of the State Legislature
(B) Members of State legislature and three other eminent
personalities
(C) Secretaries of each Department and Chief Secretary
(D) None of these
35. The distribution of the Legislative Powers between the Union and the States is governed by which Article of the Constitution?
(A) Article 279
(B) Article 269
(C) Article 246
(D) None of these
36. Standing Committee Members in Parliament are generally elected or nominated
(A) Once in 5 years
(B) Once in two years
(C) Annually
(D) Six months
37 Which among the following is NOT a function entrusted to the treasury?
(B) Payment of claims against the Government on bills or cheques or other instruments presented by the departmental drawing and disbursing officers or pensioners or others authorized to do so.
(C) Keeping initial and subsidiary accounts of the receipts and payments occurring at them and rendering statements of such transactions to the Accountants General for detailed compilation and consolidation
(D) Verification of service details of Government servants who are due to retire in the next five years
38 Under which Section of the Comptroller and Auditor General's (Duties, Powers and Conditions of Service) Act, 1971, the CAG is responsible for audit of all transactions of the Union and of the States relating to Contingency Funds and Public Accounts
(A) Section 10
(B) Section11
(C) Section 13(b)
(D) Section 19
39 Which among the following statements is NOT true relating to capital expenditure in Government accounts?
(A)Expenditure incurred with the object either of increasing concrete assets of a material and permanent character or of reducing recurring liabilities can be classified as an expenditure of Capital nature(B) Expenditure on Grants-in-aid to local bodies or institutions (for purpose of creating assets which will belong to these local bodies or institutions) can ordinarily be classified as capital expenditure
(C) Capital expenditure is generally met from receipts of a capital, debt, deposit or banking character
(D) It is open to the Government to meet capital expenditure from ordinary revenues provided there are sufficient revenue resources to cover this liability40 Which among the following is NOT direct tax revenue?
(A) Income Tax
(B) Wealth Tax
(C) Estate Duty
(D) Customs Duty
41 The Powers and Duties of the Comptroller and Auditor General of India for audit of the autonomous bodies, are derived from which. Article of the Constitution of India?
(A) Article 148
(B) Article 149
(C) Article 150
(D) Article 151
42 What are the Audit Reports prepared on the accounts of Government corporations and other autonomous bodies audited by the Comptroller and Auditor General, where the certification of the account is necessarily called?
(A) Special Audit Reports
(B) Separate Audit Reports
(C) Commercial Audit Reports
(D) None of these
43. Which among the following is an indirect Tax?
(A) Agricultural Income Tax
(B) Taxes on profession
(C) Wealth Tax
(D) Stamp Duty
44 Which among the following is NOT an essential condition that governs for incurring expenditure from the Consolidated Fund of India or Consolidated Fund of Union Territory with Legislature or the Consolidated Fund of a State?
(A) There should exist sanction, either special or general, accorded by a competent authority, authorizing the expenditure
(B) There should be provision of funds authorized by competent authority the limits within which the expenditure can be incurred
(C) The expenditure should not be more than the revenue resources
(D) The expenditure should be incurred with due regard to broad and general principles of financial propriety45. Under which Section of CAG's DPC Act 1971, the President or the Governor or the Administrator, as the case may be, after prior consultation with the comptroller and Auditor General of India may entrust the audit of bodies or authorities which is not entrusted to by or under any law made by Parliament can be entrusted to him in public interest?
(A) Section 15 :
(B) Section 19
(C) Section 21
(D) Section 20
46 Which among the following is NOT a function of the Estimates Committee to Parliament?
(A) To suggest alternative policies in order to bring about efficiency and economy in administration
(B) Verify and/or comment on policies approved by Parliament
(C) To examine whether the money included is well laid out within the limit of the policy implied in the estimates
(D) To suggest the form in which the estimated shall be presented to Parliament
47 Special Ways and Means advances availed from Reserve Bank of India are generally repayable within what period?
(A) Not exceeding three months
(B) Not exceeding one month
(C) Not exceeding six months
(D) Not exceeding a year
48. Which among the following is considered as the fundamental object of audit?
(A) Verifying that the prescribed rules and orders are obeyed
(B) To prescribe financial rules and orders
(C) To ensure that all revenue has been collected and accounted
(D) To secure real value for the taxpayers money
49 For being laid before the State Legislature the CAG submitted the State Audit Reports to whom?
(A) The Governor of the State
(B) The Speaker of the State Legislature
(C) The Chairman, Public Accounts Committee
(D) The Finance Minister of the State
50 How many members in the Committee on Public Undertakings of Parliament is from Lok Sabha?
(A) 22
(B) 15 .
(C) 7
(D) 30