Multiple-choice questions and answers on Chapter 1 – Appropriation Accounts and Chapter 2 – Finance Accounts (Revised) – of M.S.O. (A&E) Volume-II:
1. What is the primary purpose of Appropriation Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the appropriation of funds for various government activities
D) To provide an analysis of government financial performance
Answer: C) To show the appropriation of funds for various government activities
1. What is the difference between Appropriation Accounts and Finance Accounts?
A) Appropriation Accounts show revenues, while Finance Accounts show expenditures
B) Appropriation Accounts show expenditures, while Finance Accounts show revenues
C) Appropriation Accounts provide detailed information, while Finance Accounts provide summary information
D) Appropriation Accounts provide summary information, while Finance Accounts provide detailed information
Answer: C) Appropriation Accounts provide detailed information, while Finance Accounts provide summary information
1. What is the purpose of the "Abstract of Appropriation Accounts"?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the appropriation of funds for various government activities
D) To provide an overview of the Appropriation Accounts
Answer: D) To provide an overview of the Appropriation Accounts
1. What is the significance of the "Voted and Charged Expenditure" distinction in Appropriation Accounts?
A) It distinguishes between expenditure authorized by Parliament and expenditure not authorized by Parliament
B) It distinguishes between revenue expenditure and capital expenditure
C) It distinguishes between current expenditure and future expenditure
D) It distinguishes between expenditure on revenue account and expenditure on capital account
Answer: A) It distinguishes between expenditure authorized by Parliament and expenditure not authorized by Parliament
1. What is the purpose of the "Reconciliation Statement" in Appropriation Accounts?
A) To reconcile the difference between the budget estimates and the actual expenditure
B) To reconcile the difference between the revenue receipts and the revenue expenditure
C) To reconcile the difference between the capital receipts and the capital expenditure
D) To reconcile the difference between the opening balance and the closing balance
Answer: A) To reconcile the difference between the budget estimates and the actual expenditure
1. What is the primary purpose of Finance Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the financial position of the government
D) To provide an analysis of government financial performance
Answer: C) To show the financial position of the government
1. What is the difference between the "Consolidated Fund" and the "Contingency Fund"?
A) The Consolidated Fund is for meeting expenditure, while the Contingency Fund is for meeting unforeseen expenditure
B) The Consolidated Fund is for meeting revenue expenditure, while the Contingency Fund is for meeting capital expenditure
C) The Consolidated Fund is for meeting current expenditure, while the Contingency Fund is for meeting future expenditure
D) The Consolidated Fund is for meeting expenditure on revenue account, while the Contingency Fund is for meeting expenditure on capital account
Answer: A) The Consolidated Fund is for meeting expenditure, while the Contingency Fund is for meeting unforeseen expenditure
1. What is the purpose of the "Public Account"?
A) To account for government revenues and expenditures
B) To account for government borrowings and repayments
C) To account for government investments and returns
D) To account for government transactions not included in the Consolidated Fund
Answer: D) To account for government transactions not included in the Consolidated Fund
1. What is the significance of the "Reserve Funds" in Finance Accounts?
A) They are used to meet unforeseen expenditure
B) They are used to meet revenue expenditure
C) They are used to meet capital expenditure
D) They are used to meet expenditure on revenue account
Answer: A) They are used to meet unforeseen expenditure
1. What is the purpose of the "Notes to the Accounts" in Finance Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To provide additional information on the financial transactions of the government
D) To provide an analysis of government financial performance
Answer: C) To provide additional information on the financial transactions of the government
1. What is the purpose of the "Schedule of Expenditure" in Appropriation Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the appropriation of funds for various government activities
D) To provide an overview of the Appropriation Accounts
Answer: A) To provide detailed information on government expenditures
1. What is the purpose of the "Reconciliation Statement" in Appropriation Accounts?
A) To reconcile the difference between the budget estimates and the actual expenditure
B) To reconcile the difference between the revenue receipts and the revenue expenditure
C) To reconcile the difference between the capital receipts and the capital expenditure
D) To reconcile the difference between the opening balance and the closing balance
Answer: A) To reconcile the difference between the budget estimates and the actual expenditure
1. What is the difference between "Voted Expenditure" and "Charged Expenditure" in Appropriation Accounts?
A) Voted Expenditure is authorized by Parliament, while Charged Expenditure is not
B) Voted Expenditure is not authorized by Parliament, while Charged Expenditure is
C) Voted Expenditure is for revenue purposes, while Charged Expenditure is for capital purposes
D) Voted Expenditure is for capital purposes, while Charged Expenditure is for revenue purposes
Answer: A) Voted Expenditure is authorized by Parliament, while Charged Expenditure is not
1. What is the purpose of the "Finance Accounts" in government accounting?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the financial position of the government
D) To provide an analysis of government financial performance
Answer: C) To show the financial position of the government
1. What is the difference between the "Consolidated Fund" and the "Public Account" in Finance Accounts?
A) The Consolidated Fund is for meeting expenditure, while the Public Account is for meeting revenue
B) The Consolidated Fund is for meeting revenue, while the Public Account is for meeting expenditure
C) The Consolidated Fund is for meeting government transactions, while the Public Account is for meeting non-government transactions
D) The Consolidated Fund is for meeting capital transactions, while the Public Account is for meeting revenue transactions
Answer: A) The Consolidated Fund is for meeting expenditure, while the Public Account is for meeting revenue
1. What is the purpose of the "Notes to the Accounts" in Finance Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To provide additional information on the financial transactions of the government
D) To provide an analysis of government financial performance
Answer: C) To provide additional information on the financial transactions of the government
1. What is the purpose of the "Appropriation Accounts" in government accounting?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the appropriation of funds for various government activities
D) To provide an analysis of government financial performance
Answer: C) To show the appropriation of funds for various government activities
1. What is the difference between "Appropriation Accounts" and "Finance Accounts"?
A) Appropriation Accounts show revenues, while Finance Accounts show expenditures
B) Appropriation Accounts show expenditures, while Finance Accounts show revenues
C) Appropriation Accounts provide detailed information, while Finance Accounts provide summary information
D) Appropriation Accounts provide summary information, while Finance Accounts provide detailed information
Answer: C) Appropriation Accounts provide detailed information, while Finance Accounts provide summary information
1. What is the purpose of the "Schedule of Expenditure" in Appropriation Accounts?
A) To provide detailed information on government expenditures
B) To provide a summary of government revenues
C) To show the appropriation of funds for various government activities
D) To provide an overview of the Appropriation Accounts
Answer: A) To provide detailed information on government expenditures
1. What is the significance of the "Voted and Charged Expenditure" distinction in Appropriation Accounts?
A) It distinguishes between expenditure authorized by Parliament and expenditure not authorized by Parliament
B) It distinguishes between revenue expenditure and capital expenditure
C) It distinguishes between current expenditure and future expenditure
D) It distinguishes between expenditure on revenue account and expenditure on capital account
Answer: A) It distinguishes between expenditure authorized by Parliament and expenditure not authorized by Parliament
1. What is the purpose of the "Reconciliation Statement" in Appropriation Accounts?
A) To reconcile the difference between the budget estimates and the actual expenditure
B) To reconcile the difference between the revenue receipts and the revenue expenditure
C) To reconcile the difference between the capital receipts and the capital expenditure
D) To reconcile the difference between the opening balance and the closing balance
Answer: A) To reconcile the difference between the budget estimates and the actual expenditure
True or False
1. True or False: Appropriation Accounts show the actual expenditure incurred by the government during a financial year.
Answer: True
1. True or False: Finance Accounts provide a detailed breakdown of government revenues.
Answer: False (Finance Accounts provide a summary of government revenues)
1. True or False: The "Abstract of Appropriation Accounts" provides a detailed breakdown of government expenditures.
Answer: False (The "Abstract of Appropriation Accounts" provides a summary of government expenditures)
1. True or False: Voted Expenditure is expenditure that is not authorized by Parliament.
Answer: False (Voted Expenditure is expenditure that is authorized by Parliament)
1. True or False: Charged Expenditure is expenditure that is authorized by Parliament.
Answer: True
1. True or False: The "Schedule of Expenditure" in Appropriation Accounts provides a summary of government revenues.
Answer: False (The "Schedule of Expenditure" provides a detailed breakdown of government expenditures)
1. True or False: Finance Accounts are prepared on a cash basis.
Answer: True
1. True or False: Appropriation Accounts are prepared on an accrual basis.
Answer: True
1. True or False: The "Reconciliation Statement" in Appropriation Accounts reconciles the difference between the budget estimates and the actual expenditure.
Answer: True
1. True or False: The "Notes to the Accounts" in Finance Accounts provide additional information on the financial transactions of the government.
Answer: True
1. True or False: The Consolidated Fund is used to meet government expenditures.
Answer: True
1. True or False: The Public Account is used to meet government revenues.
Answer: False (The Public Account is used to account for government transactions not included in the Consolidated Fund)
1. True or False: The "Finance Accounts" provide a detailed breakdown of government expenditures.
Answer: False (The "Finance Accounts" provide a summary of government expenditures)
1. True or False: Appropriation Accounts are used to monitor government expenditures.
Answer: True
1. True or False: Finance Accounts are used to monitor government revenues.
Answer: True
Questions 16-20
1. True or False: Voted Expenditure is expenditure that is not charged on the Consolidated Fund.
Answer: True
1. True or False: Charged Expenditure is expenditure that is charged on the Consolidated Fund.
Answer: True
1. True or False: The "Abstract of Appropriation Accounts" provides a detailed breakdown of government revenues.
Answer: False (The "Abstract of Appropriation Accounts" provides a summary of government expenditures)
1. True or False: Finance Accounts are prepared by the Comptroller and Auditor General of India.
Answer: True
1. True or False: Appropriation Accounts are prepared by the Ministry of Finance.
Answer: False (Appropriation Accounts are prepared by the Comptroller and Auditor General of India)
1. True or False: The "Schedule of Expenditure" in Appropriation Accounts provides a summary of government expenditures.
Answer: False (The "Schedule of Expenditure" provides a detailed breakdown of government expenditures)
1. True or False: Finance Accounts provide a detailed breakdown of government revenues and expenditures.
Answer: False (Finance Accounts provide a summary of government revenues and expenditures)
1. True or False: Appropriation Accounts are used to monitor government revenues.
Answer: False (Appropriation Accounts are used to monitor government expenditures)
1. True or False: The "Reconciliation Statement" in Appropriation Accounts reconciles the difference between the budget estimates and the actual revenue.
Answer: False (The "Reconciliation Statement" reconciles the difference between the budget estimates and the actual expenditure)
1. True or False: The "Notes to the Accounts" in Finance Accounts provide additional information on the financial transactions of the government.
Answer: True
1. True or False: The Consolidated Fund is used to meet government revenues.
Answer: False (The Consolidated Fund is used to meet government expenditures)
1. True or False: The Public Account is used to account for government transactions included in the Consolidated Fund.
Answer: False (The Public Account is used to account for government transactions not included in the Consolidated Fund)
1. True or False: Appropriation Accounts are prepared on a cash basis.
Answer: False (Appropriation Accounts are prepared on an accrual basis)
1. True or False: Finance Accounts provide a detailed breakdown of government expenditures.
Answer: False (Finance Accounts provide a summary of government expenditures)
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