General
Financial Rules 2017 - Chapter 4: Government Accounts
- Accounts
of the Union Government shall be prepared by
- CGA
- C&AG
- Financial
Advisor of the concerned Ministry/Department
- Public
Account Committee
- Accounts
of the Union Government shall be certified by
- CGA
- C&AG
- Financial
Advisor of the concerned Ministry/Department
- Public
Account Committee
- Accounts
of the Union Government shall be submitted to the President of India,
preferably within
- 1
month of close of the Financial Year
- 3
months of close of the Financial Year
- 6
months of close of the Financial Year
- 9
months of close of the Financial Year
- Who
shall cause Accounts of the Union Government to be laid before each House
of Parliament?
- Finance
Minister
- Union
Cabinet
- C&AG
- President
- The
Accounts of the Union Government shall be kept in such form as the
President may, on the advice of the Comptroller and Auditor General of
India, prescribe as given in Article
- 148
- 149
- 150
- 151
- Who
is responsible for prescribing the form of accounts of the Union and States,
and to frame, or revise, rules and manuals relating thereto on behalf of
the President of India on the advice of the Comptroller and Auditor
General of India?
- Accountant
General
- CCA
- CAA
- CGA
- Government
accounts shall be prepared on
- cash
basis.
- credit
basis
- accrual
basis
- any
of the above
- Government
accounts shall be kept in
- single
part
- two
parts
- three
parts
- four
parts
- Pick
the incorrect one
- Consolidated
Fund is divided into two Divisions, namely, ‘Revenue’ and ‘Capital’
divisions.
- The
Revenue Division comprises two sections namely Receipt Heads (Revenue
Account) dealing with the proceeds of taxation and other receipts
classified as revenue and the section ‘Expenditure Heads (Revenue
Account)’ dealing with the revenue expenditure met therefrom.
- The
Capital Division comprises two sections, viz., ‘Receipt Heads (Capital
Account)’ and ‘Expenditure Heads (Capital Account)’
- These
sections are in turn divided into sectors such as ‘General Services’,
‘Social and Community Services’, ‘Economic Services’, etc., under which
specific functions or services are grouped corresponding to the sectors
of classification and which are represented by Major Heads (comprising
Sub-Major Heads wherever necessary).
- Contingency
Fund of Union Territories are set up by the Government of India under
- Section
48 of Government of Union Territories Act, 1963.
- Section
52 of Government of Union Territories Act, 1948
- Section
62 of Government of Union Territories Act, 1965
- Section
108 of Government of Union Territories Act, 1967
- Transactions
relating to debt (other than those included in Part-I), reserve funds,
deposits, advances, suspense, remittances and cash balances shall be
recorded in
- Consolidated
Fund
- Contingency
Fund
- Public
Account
- Departmental
Fund
- The
classification of transaction in Government Accounts shall have closer
reference to
- Function/Programme/Activity
- Department/Ministry
- Capital
and Revenue
- Charged
and Voted
- Classification
of Government Accounts consists of
- 4
tiers
- 5
tiers
- 6
tiers
- 7
tiers
- The
six tiers of Government Accounts are represented by a unique
- 15
digits’ numeric code.
- 15
digits’ alpha-numeric code
- 13
digits’ numeric code.
- 13
digits’ alpha-numeric code
- Pick
the incorrect one
- The
List of Major and Minor Heads of Accounts of Union and States is
maintained by the Ministry of Finance (Department of Expenditure –
Controller General of Accounts)
- CGA
is authorised to open a new head of account on the advice of the C&AG
under the Article 150 of the Constitution.
- Ministries/Departments
may open Sub-Heads and Detailed Heads as required by them in consultation
with the Budget Division of the Ministry of Finance.
- Principal
Accounts Offices of Ministry/Department may open Sub/Detailed Heads
required under the Minor Heads falling within the Consolidated Fund of
India subject to certain restriction.
- The
Object Heads have been prescribed under Government of India’s Orders below
Rule 8 of
- R&P
1983
- GFR
2017
- GAR
1990
- Delegation
of Financial Power Rules
- State
whether true or false In cases of doubt regarding the Head under which a
transaction should be accounted, the matter shall be referred to the
Principal Accounts Officer of the Ministry/Department concerned for
clarification of the Ministry of Finance and the CA&G, wherever necessary.
- True
- False
- RBI
shall nominate a bank to function as Accredited Bank of a Ministry or
Department, in consultation with the
- CGA
- C&AG
- PAO
- Finance
Minister
- Pick
the correct ones (i) Public Financial Management System (PFMS) an
integrated Financial Management System of CGA shall be used for sanction
preparation, bill processing, payment, receipt management, Direct Benefit
Transfer, fund flow management and financial reporting. (ii) All the
payment, to the extent possible, shall be released ‘just-in-time’ by the
Ministries through PFMS. (iii) Detailed Demand for Grants (DDG), as
approved, must be uploaded on PFMS by the end of the financial year. (iv)
All the re-appropriation orders, surrender order shall be generated
through PFMS system. (v) All grantee institutions shall submit Utilisation
Certificates on PFMS.
- i,
ii, iii and iv
- i,
ii, iv and v
- ii,
iii, iv and v
- All
of the above
- DBT
should include
- in-kind
transfers to beneficiaries
- in
cash transfers to beneficiaries
- transfers/honorariums
given to various enablers of government schemes
- All
of the above.
- Transaction
charges for the financial intermediaries facilitating DBT payments shall
be paid as stipulated by
- Union
Cabinet
- Ministry
of Finance
- Ministry
of Trade & Commerce
- Ministry
of Corporate Affairs
- Appropriation
Accounts of Central Ministries/Departments other than Ministry of
Railways, Defence and Posts shall be prepared by the
- CCA
- CGA
- C&AG
- Principal
Accounts Officer
- Appropriation
Accounts of Central Ministries/Departments shall be prepared under the guidance
of
- CCA
- CGA
- C&AG
- Principal
Accounts Officer
- Who
signs the Appropriation Accounts of Central Ministries/Departments?
- CAA
- CGA
- C&AG
- Principal
Accounts Officer
- Union
Government Appropriation Accounts (Civil) that required to be submitted to
Parliament, shall be prepared by
- Principal
Accounts Officer
- CCA
- CA&G
- CGA
- State
whether true or false Appropriation Accounts pertaining to Departments of
Posts and Defence Services shall be prepared and signed by the Secretaries
to the Government of India in the Department of Posts and Ministry of
Defence respectively and that of Ministry of Railways by the Chairman,
Railway Board.
- True
- False
- Accounts
showing under the respective Heads the annual receipts and disbursements
and statement of balances for the purpose of the Union, are called
- Appropriation
Accounts
- Finance
Accounts
- Proforma
Accounts
- Balance
Sheet
- Finance
accounts of the Government of India (including transactions of Department
of Posts and Ministries of Defence and Railways and transactions under
Public Account of India of Union Territory Governments) shall be prepared
and signed by the
- CGA
- C&AG
- Secretary
(Expenditure), Ministry of Finance
- Finance
Minister
- Finance
accounts of the Government of India is countersigned by the
- CGA
- C&AG
- Secretary
(Expenditure), Ministry of Finance
- Finance
Minister
- The
certified Annual Accounts and the Reports relating to the accounts shall
be submitted by the Comptroller and Auditor General of India to the
President in accordance with the provisions of
- Section
10 of DPC Act, 1971 & Article 150 of Constitution
- Section
11 of DPC Act, 1971 & Article 151 of Constitution
- Section
11 of DPC Act, 1971 & Article 150 of Constitution
- Section
10 of DPC Act, 1971 & Article 151 of Constitution
- The
Appropriation and Finance Accounts shall be prepared by the respective
authorities on the dates mutually agreed upon with the
- CGA
- C&AG
- DRSC
- Finance
Minister
- State
whether true or false Details of the financial stakes of the
Administrative Ministries / PSUs / Subordinate / Statutory / Autonomous
Bodies in Public Private Partnerships (PPP)/ Production Sharing Contracts
(PSCs)/ Joint Ventures (JV’s)/ Subsidiary companies etc. should be
disclosed Finance Accounts.
- True
- False
- Pick
the incorrect one
- Proforma
Accounts is suitable for Government Departments working on a commercial
or quasi-commercial basis
- This
includes the maintenance of suitable Manufacturing, Trading, Profit &
Loss Accounts and Balance Sheet.
- The
Head of the units shall be required to maintain such subsidiary proforma
accounts in commercial form as may be agreed between Government and CGA.
- None
of the above (All of the above are correct)
- Proforma
accounts of regular Government Workshops and Factories shall be kept in
accordance with the detailed rules and procedure prescribed in the
- GAR,
1990
- R&P,
1983
- GFR,
2017
- Departmental
regulations.
- Proforma
accounts relating to Public Works shall be prepared by the
- Divisional
Officer
- CCA
- Accounts
Officers
- CGA
- Proforma
accounts relating to Public Works shall be prepared by the Accounts
Officers in accordance with the instructions contained in
- Departmental
regulations
- Account
Code for Accountants General.
- GAR,
1990
- Works
Manual.
- Where
commercial accounts are maintained for the purpose of assessment of the
cost of an article or service, who shall ensure that adequate regulations
are framed with the approval of Government in order to ensure that the
cost deduced from the accounts is accurate and true?
- Head
of the Unit
- CAG
- CGA
- CCA
- Subsidiary
accounts and statements shall be submitted on such date as may be required
by to the
- CCA
- CAA
- CGA
- Accounts
Officer
- Subsidiary
accounts and statements shall be appended each year to the
- Appropriation
Accounts
- Finance
Accounts
- Departmental
Accounts
- Balance
Sheet
- The
Personal Deposit Account shall be authorised to be opened by a special
order by the concerned Ministry or Department in consultation with the
- CAA
- CCA
- CGA
- C&AG
- Every
personal deposit account so authorised to be opened, shall form part of
the Government Account and be located in the
- Consolidated
Fund
- Contingency
Fund
- Public
Account
- Local
Departmental Account
- The
provisions relating to “Personal Deposit Account” are contained in
- Civil
Accounts Manual and R&P 1983
- GAR,
1990
- GFR,
2017
- Accounts
Code
- In
relation to Civil and Criminal Courts’ deposits, Personal Deposit Account
to be opened in favour of the
- Chief
Justice of High Court of the State Concerned
- Chief
Justice of Supreme Court
- Bar
Council
- Chief
Judicial Authority concerned
- State
whether true or false Officers commanding units and others concerned in
the administration of public funds in the Defence Departments can be
authorised to open personal deposit accounts for such funds.
- True
- False
- Significant
expenditure incurred with the object of acquiring tangible assets of a
permanent nature or enhancing the utility of existing assets, shall
broadly be defined as
- Assets
expenditure
- Capital
expenditure.
- Revenue
expenditure
- At
discretion of HoD
- Charges
on maintenance, repair, upkeep and working expenses, which are required to
maintain the assets in a running order as also all other expenses incurred
for the day to day running of the organisation, including establishment
and administrative expenses, shall be classified as
- Revenue
expenditure
- Capital
expenditure
- Major
Expenditure
- Contingent
Expenditure
- Pick
the incorrect one
- Expenditure
on a temporary asset or on grants-in-aid cannot ordinarily be considered
as a capital expenditure
- Expenditure
on a temporary asset or on grants-in-aid shall not, except in cases
specifically authorised by the President on the advice of the C&AG,
be debited to a Capital Head.
- Capital
expenditure is generally met from receipts of capital nature, as
distinguished from ordinary revenues derived from taxes, duties, fees,
fines and similar items of current income including extraordinary
receipts.
- Under
no circumstances the Government shall meet capital expenditure from
ordinary revenues.
- Charges
for re- placement of all wastage or depreciation of property originally
provided out of capital grants shall be classified as
- Revenue
Expenditure
- Capital
Expenditure
- Contingent
Expenditure
- At
discretion of HoD
- The
cost of genuine improvements, which enhance the useful life of the asset
whether determined by prescribed rules or formulae, or under special
orders of Government, may be debited to
- Revenue
Expenditure
- Capital
Expenditure
- Contingent
Expenditure
- At
discretion of HoD
- Expenditure
on account of reparation of damage caused by extraordinary calamities such
as flood, fire, earthquake, enemy action, etc., shall be charged to
Capital, or to Revenue, or divided between them, depending upon
whether such expenditure results in creation/acquisition of new assets or
whether it is only for restoring the condition of the existing assets, as
may be determined case basis by
- HoD
- Government
- Ministry
of Finance
- Accounts
Office
- The
allocation between capital and revenue expenditure on a Capital Scheme for
which separate Capital and Revenue Accounts are to be kept, shall be
determined in accordance with such general or special orders as may be
prescribed by the Government after consultation with the
- CGA
- CCA
- C&AG
- Niti
Aayog
- Capital
receipts accruing during the process of construction of a project, shall
be classified as
- Revenue
Receipt
- Misc.
Receipt
- Contribution
- reduction
of capital expenditure
- Receipts
and recoveries on Capital Account in so far as they represent recoveries
of expenditure previously debited to a Capital Major Head shall be taken
in
- reduction
of capital expenditure
- Revenue
Receipt
- Misc.
Receipt
- Contribution
- State
whether true or false Where loans outstanding against Public Sector
Undertakings are proposed to be converted into equity investments in or as
grants-in-aid to the Public Sector Undertakings, the approval of the
Ministry of Finance to such proposals, shall be obtained by including a
token provision in the relevant Demands for Grants or Supplementary
Demands for Grants as may be found expedient.
- True
- False
- For
capital outlay provided otherwise (other than out of specific loan raised
by the Govt.), interest shall be charged at the rate of interest to be
determined each year by the
- Department
of Economic Affairs, Ministry of Finance.
- Department
of Expenditure, Ministry of Finance
- Ministry
of Trade & Commerce
- Ministry
of Corporate Affairs
- As a
convention, the period accepted by Central and State Governments for the
re-audit of past transactions involving errors in classification
- 2
years
- 3
years
- 5
years
- 10
years
- The
Central Government (which includes Union Territories) and the State
Governments have agreed under reciprocal arrangements not to prefer petty and
isolated claims for an amount not exceeding
- 5000/-
- 7500/-
- 10000/-
- 15000/-
- If a
doubt arises as to whether a particular claim would fall within or outside
the purview of the proposed arrangement between the Central Government
(which includes Union Territories) and the State Governments, it shall be
decided by
- Central
Govt.
- State
Governments concerned
- mutual
consultation
- Parliament.
- In
the case of Projects, jointly executed by several Governments, where the
expenditure is to be shared by the participating Governments in agreed
proportions, but the expenditure is ab-initio incurred by one Government
and shares of other participating Governments recovered subsequently shall
be exhibited as
- Revenue
receipt
- Misc.
Revenue receipt
- Misc.
Deposit Receipt
- abatement
of charges
- A
five years’ contract shall be offered to the State Government during which
the Central Government would pay the fixed sum per annum for the work, If
the charges are found to be reasonable and do not exceed for any
individual item (or connected group of items)
- 10000/-
- 25000/-
- 50000/-
- 100000/-
- An
annual statement of proposed charges from the State Government at the time
of preparation of the Budget shall be necessary, if the amount agreed upon
exceeds
- 25000/-
- 50000/-
- 75000/-
- 100000/-
- Claims
of State Governments, on account of the extra cost of agency functions
entrusted to them under
- Article
258
- Article
259
- Article
261
- Article
263
- The
date up-to which Inter-Governmental adjustments can be carried out as the
books of RBI for the month of March are closed on this very date
- 7th
April
- 15th
April
- 20th
May
- 1st
June
- Recoveries
of expenditure for services rendered or supplies made to non-Government
parties or other Governments (including local funds and Governments
outside India), shall in all cases, be classified as
- Reduction
of Expenditure
- Receipts
- Contribution
- Misc.
Deposit Receipt
- When
a Government undertakes a service merely as an agent of a private body,
the recovery of entire cost of the service rendered shall be taken
- Reduction
of Expenditure
- Receipts
- Contribution
- Misc.
Deposit Receipt
- State
whether true or false Any relief in respect of payment for services
rendered or supplies made to any outside body or fund shall ordinarily be
given through a remission of dues rather than by grant-in-aid.
- True
- False
- Pick
the incorrect one
- Half
the maintenance charges pertaining to boarder/boundary line will be borne
by the Central Government, the other half being recovered, as far as
practicable, from the foreign country, failing which the foreign
country’s share will also be borne by the Central Government.
- Charges
relating to demarcation of boundaries and boundary disputes will be borne
by the Central Government under Entry 10 of the Union List, subject to
such recovery as shall be made from the Foreign Country.
- Where
streams or other watercourses form the boundaries and where the ordinary
principle of median line applies, the Government concerned will bear the
cost of maintenance of the boundary line on its side.
- The
arrangement in (a) above i.e. bearing half the maintenance charges
pertaining to boarder/boundary line, in its application to Nepal will be
subject to special arrangements worked out in consultation with the Nepal
Government.
- The
share of the Nepal Government for maintenance and demarcation of and disputes
over boundaries will be borne by the Central Government for the present
- For
purposes of inter-Departmental payments, the Departments of a Government
shall be divided into
- Service
departments and commercial departments
- Work
departments and non-work departments
- General
Departments and Economic departments
- General,
Social and Economic departments.
- All
claims shall ordinarily be preferred between Departments, both commercial
and non-commercial of the Central Government, within the same financial
year and not beyond
- 2
years from the date of transaction.
- 3
years from the date of transaction.
- 5
years from the date of transaction.
- 7
years from the date of transaction.
- The
settlement of inter-departmental adjustments shall be regulated by the
directions contained in Chapter 4 of
- R&P
1983
- GAR,1990.
- GFR,
2017
- Treasury
Rules
- Between
different Departments of the same Government, the recoveries effected for
services rendered shall be classified as
- Revenue
Income
- Misc.
Income
- Deposit
Receipt
- Deductions
from the gross expenditure.
- Recoveries
made by a Commercial Department, e.g., Railways, Posts or a departmental
commercial undertaking in respect of services rendered in pursuance of the
functions for which the Commercial Department is constituted shall be
treated as
- receipts
of the Department
- deductions
from the gross expenditure
- grant
to the department
- deposit
receipt
- Where
a commercial department acts as an agent for the discharge of functions
not germane to the essential purpose of the Department, the recoveries shall
be taken as
- Revenue
Income
- Misc.
Income
- Reduction
of expenditure
- Deposit
Receipt
- Recoveries
of fees for purchase, inspection, etc., effected by the Central Purchase
Organizations (DGS&D) of Government of India, are treated as
- receipts
of the Department
- deductions
from the gross expenditure
- grant
to the department
- deposit
receipt
- State
whether true or false Recoveries effected from another Department of the
same Government which are to be classified as deduction from the gross
expenditure, shall be shown in the relevant Demand for Grant as “below the
line” recovery under the appropriate Major Head of Account etc.
- True
- False
- Fill
in the blank In the case of Government Departments and undertakings
declared as commercial, adjustment of Pensionary liability shall be made
in the regular accounts by charging the average of the percentage for
___________ of service based on the rates of monthly contribution of
prescribed pension
- 10th
years
- 12th
years
- 15th
years
- 20th
years
0 Comments