📘 Railway Financial Code (RFC) Vol–II – 100 MCQs
(Covers detailed procedures: cash, receipts, payments, stores, contracts, works, etc.)
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RFC Vol-II mainly deals with:
A. Principles
B. Detailed procedures
C. Audit only
D. Budget only
Answer: B -
Cash transactions must be recorded:
A. Weekly
B. Monthly
C. Daily
D. Yearly
Answer: C -
Cash book is maintained by:
A. Bank
B. Accounts office
C. Contractor
D. Auditor
Answer: B -
Cash balance must be verified:
A. Annually
B. Monthly
C. Daily
D. Never
Answer: C -
Surprise cash verification is done to detect:
A. Profit
B. Fraud
C. Cost
D. Revenue
Answer: B -
Receipts must be:
A. Recorded immediately
B. Delayed
C. Ignored
D. Monthly
Answer: A -
Payment is made only after:
A. Sanction
B. Audit
C. Recording
D. None
Answer: A -
All receipts should be credited to:
A. Personal account
B. Government account
C. Private account
D. None
Answer: B -
Cash should not be retained unnecessarily due to:
A. Risk
B. Profit
C. Cost
D. None
Answer: A -
Payment vouchers must be:
A. Verified
B. Ignored
C. Deleted
D. None
Answer: A
-
Stores accounting ensures:
A. Control of materials
B. Profit
C. Audit
D. None
Answer: A -
Stores ledger records:
A. Cash
B. Materials
C. Profit
D. Audit
Answer: B -
Stock verification is done to check:
A. Accuracy
B. Fraud
C. Loss
D. All
Answer: D -
Surplus stores should be:
A. Ignored
B. Disposed
C. Stored
D. None
Answer: B -
Works expenditure relates to:
A. Capital works
B. Revenue
C. Profit
D. None
Answer: A -
Contract is an agreement:
A. Legal
B. Informal
C. Optional
D. None
Answer: A -
Tender system ensures:
A. Transparency
B. Competition
C. Fairness
D. All
Answer: D -
Lowest tender is accepted if:
A. Suitable
B. Highest
C. Random
D. None
Answer: A -
Work orders must be:
A. Written
B. Oral
C. Optional
D. None
Answer: A -
Measurement book records:
A. Cash
B. Work done
C. Profit
D. Audit
Answer: B
-
Internal control ensures:
A. Accuracy
B. Fraud prevention
C. Efficiency
D. All
Answer: D -
Audit ensures:
A. Compliance
B. Profit
C. Loss
D. None
Answer: A -
Payment without sanction is:
A. Valid
B. Irregular
C. Profit
D. None
Answer: B -
Cash handling requires:
A. Care
B. Control
C. Security
D. All
Answer: D -
Railway receipts include:
A. Freight
B. Passenger
C. Other earnings
D. All
Answer: D -
Expenditure control ensures:
A. Economy
B. Efficiency
C. Effectiveness
D. All
Answer: D -
Stores issue must be:
A. Authorized
B. Random
C. Ignored
D. None
Answer: A -
Stock discrepancy indicates:
A. Error
B. Fraud
C. Loss
D. All
Answer: D -
Payment audit ensures:
A. Correctness
B. Legality
C. Authorization
D. All
Answer: D -
Railway contracts ensure:
A. Work execution
B. Control
C. Transparency
D. All
Answer: D -
Measurement book is:
A. Legal document
B. Informal
C. Optional
D. None
Answer: A -
Cash book must be:
A. Updated daily
B. Weekly
C. Monthly
D. None
Answer: A -
Cash shortage is:
A. Profit
B. Loss
C. Asset
D. None
Answer: B -
Cash excess is:
A. Income
B. Liability
C. Profit
D. None
Answer: B -
Receipts must be acknowledged by:
A. Receipt
B. Ledger
C. Audit
D. None
Answer: A -
Railway stores include:
A. Materials
B. Tools
C. Equipment
D. All
Answer: D -
Stores control prevents:
A. Loss
B. Theft
C. Waste
D. All
Answer: D -
Work expenditure must be:
A. Authorized
B. Recorded
C. Controlled
D. All
Answer: D -
Contracts must follow:
A. Rules
B. Procedures
C. Guidelines
D. All
Answer: D -
Payment must be:
A. Verified
B. Authorized
C. Recorded
D. All
Answer: D -
Railway accounting ensures:
A. Control
B. Accuracy
C. Compliance
D. All
Answer: D -
Internal check ensures:
A. Accuracy
B. Control
C. Fraud prevention
D. All
Answer: D -
Cash transactions require:
A. Recording
B. Verification
C. Control
D. All
Answer: D -
Railway financial system ensures:
A. Transparency
B. Accountability
C. Control
D. All
Answer: D -
Stores accounting ensures:
A. Accuracy
B. Control
C. Efficiency
D. All
Answer: D -
Railway works require:
A. Sanction
B. Execution
C. Monitoring
D. All
Answer: D -
Contracts require:
A. Tender
B. Approval
C. Execution
D. All
Answer: D -
Audit ensures:
A. Legality
B. Accuracy
C. Compliance
D. All
Answer: D -
Financial rules ensure:
A. Discipline
B. Control
C. Efficiency
D. All
Answer: D -
Cash management ensures:
A. Safety
B. Control
C. Accuracy
D. All
Answer: D -
Railway receipts must be:
A. Recorded
B. Deposited
C. Controlled
D. All
Answer: D -
Payment system ensures:
A. Accuracy
B. Authorization
C. Control
D. All
Answer: D -
Stores verification ensures:
A. Accuracy
B. Control
C. Fraud detection
D. All
Answer: D -
Railway finance ensures:
A. Control
B. Compliance
C. Efficiency
D. All
Answer: D -
Financial procedures ensure:
A. Discipline
B. Accuracy
C. Control
D. All
Answer: D -
Railway accounting follows:
A. Rules
B. Codes
C. Procedures
D. All
Answer: D -
RFC Vol-II deals with:
A. Procedures
B. Principles
C. Audit
D. Budget
Answer: A -
Financial control avoids:
A. Fraud
B. Waste
C. Misuse
D. All
Answer: D -
Railway financial system ensures:
A. Accountability
B. Transparency
C. Control
D. All
Answer: D -
RFC Vol-II is essential for:
A. Implementation of rules
B. Budget
C. Audit
D. None
Answer: A
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