02(7-20)

 

CHAPTER II

CONSOLIDATED FUNDS,

CONTINGENCY FUNDS

AND PUBLIC ACCOUNTS OF INDIA

AND OF THE STATES

7. The Central Government and the State Governments have separate Consolidated Funds of their own, entitled ‘the Consolidated Fund of India’ and ‘the Consolidated Fund of the State’ respectively, into which the revenues received by the Central (including Union Territories)/ State Government, Loans raised by that Government by the issue of treasury bills, loans or ways and means advances and moneys received by that Government in repayment of loans are credited, and from which expenditure of that Government when so authorised by the appropriate Legislature is met.

The Central Government and the State Governments have also separate Public Account entitled ‘the Public Account of India’ and the ‘Public Account of the State’ respectively into which all other public moneys received by or on behalf of the Central (including Union Territories)/ State Governments are credited and from which disbursements are made in accordance with the prescribed rules.

The procedure to be followed for the payment into and the withdrawal, transfer or disbursement of moneys from, the Consolidated Fund and the Public Account and for the custody of moneys standing in that fund and account is regulated by law made by the appropriate Legislature and, pending such legislation, by the rules made by the President or Governor of the State, as the case may be, under Article 283 of the constitution. The President and the Governor of the States have authorised under this Article the continuation of the rules in force before the commencement of the relevant provisions of the constitution. These rules include provisions to secure that all public moneys received on account of the Central Government or of the State shall, with such exceptions as may specified in them, be paid into the Consolidated Fund or the Public Account of India or of the State concerned, as the case may be.

𝗤1.. The Consolidated Fund of the Central Government is known as
(A) Consolidated Fund of Central
(B) Consolidated Fund of the Union
(C) Consolidated Fund of India
(D) Consolidated Fund

 ANSWER:(C) Consolidated Fund of India

𝗤2. Under whose disposal is the Contingency Fund of India held?
(A) Finance Ministry

(B) President of India
(C) Comptroller & Auditor General of India
(D) Controller General of Accounts
(B) President of India

 ANSWER:(B) President of India

𝗤3..The procedure to be followed for the payment into and the withdrawal, transfer or disbursement of moneys, from the Consolidated Fund and Public Account of the State is regulated by. law made by :
(A) State Legislature
(B) Parliament
(C) Lok Sabha
(D) Governor

 ANSWER:(A) State Legislature

𝗤4. Custody of moneys standing in the Consolidated Fund and Public Account is regulated by law made by the :
(A) High Court
(B) Supreme Court
(C) Appropriate Legislature
(D) Union Cabinet

 ANSWER:(C) Appropriate Legislature

𝗤5.. Revenues received by the Central Government are credited to which Fund?
(A) Contingency Fund of India
(B) Consolidated Fund of India
(C) Public Accounts of India
(D) Union Budget

 ANSWER:(B) Consolidated Fund of India

Contingency Fund

7A. The Central Government and each State Government have or may have a separate Contingency Fund entitled ‘the Contingency Fund of India’ and ‘the Contingency Fund of the State’, respectively. The Fund will be at the disposal of the President or the Governor of the State to enable advances to be made by him for meeting unforeseen expenditure, pending authorization of such expenditure by Parliament or the State Legislature under appropriations made by law. The procedure to be followed for the custody of, the payment of moneys into and the withdrawal of moneys from such Fund is regulated by law made by the appropriate Legislature and pending such legislations by the rules made by the President of the Governor of the State.

Note:— 

The transactions of the Railways, Posts and Telegraphs and Defence Department form part of the Consolidated Fund, the Contingency Fund and the Public Account of India, and taken against the ‘Railway Fund’, Posts and Telegraphs Account and Defence Account which have been created pro forma (in the books of the Reserve Bank of India) within the Consolidated Fund, etc.

 

𝗤1.The Contingency Fund of the State is meant for meeting :

(A) Unforeseen expenditure pending authorisation by the Legislature
(B) To pay wages to the contingent workers of the State Government
(C) To enable the State Government to pay bonuses to their workers.

(D) Cost of developmental schemes.

ANSWER:(A) Unforeseen expenditure pending authorisation by the Legislature

𝗤2. The Contingency Fund of a State is under the disposal of:

(A) The Chief Minister of the State
(B) The Finance Minister of the State
(C) The Speaker of the Assembly

(D) The Governor of the State

 ANSWER: (D) The Governor of the State

.

𝗤3. The power to sanction expenditure from the Contingency Fund of a State is vested with :

(A) Chief Minister
(B) Finance Minister
(C) Finance Secretary

(D) Governor

ANSWER: (D) Governor

𝗤4. .Under whose disposal is the Contingency Fund of India held? 

A:-Finance Ministry 
B:-President of India 
C:-Comptroller & Auditor General of India 
D:-Controller General of Accounts 

Correct Answer:- Option-B

 ANSWER: B:-President of India 

 

𝗤5. The unforeseen expenditure of Government is made from

(A) Consolidated Fund

(B) Public Account
(C) Contingency Fund

(D) Public Fund

(C) Contingency Fund

ANSWER: (C) Contingency Fund

𝗤6. Advances for meeting unforeseen expenditure in Central Government pending authorization of parliament are given from which Fund of India? 

A:-Contingency Fund of India 
B:-Consolidated Fund of India 
C:-Public Account of India 

D:-Union budget 

 ANSWER: A:-Contingency Fund of India 

𝗤7.The power to sanction expenditure from the Contingency Fund of a State is vested with : 

(A) Chief Minister 
(B) Finance Minister 
(C) Finance Secretary 

(D) Governor

 ANSWER: (D) Governor

𝗤8. The Contingency Fund of a State is under the disposal of:

(A) The Chief Minister of the State
(B) The Finance Minister of the State 
(C) The Speaker of the Assembly

(D) The Governor of the State

 ANSWER: (D) The Governor of the State

8. Save as may be specifically provided in any case, cash balances in the separate ‘Consolidated Fund or Contingency Funds and Public Accounts of India and States’ are either held in a Government treasury or kept with the Bank.

𝗤1. Normally where is the cash balance in the Consolidated Fund, Contingency Fund and Public Account held ?
(A) Government treasury or Bank
(B) Department concerned
(C) Local Fund
(D) None of the above

 ANSWER:(A) Government treasury or Bank

ACCOUNT OF THE CENTRAL AND STATE GOVERNMENTS WITH THE BANK

9. The Central Government and State Governments have made separate agreements* with the Reserve Bank of India by virtue of which the general banking business of these Governments (in which business is included the receipt, collection, payment and remittance of moneys on behalf of Government) is carried on and transacted by the Bank in accordance with the subject to the provisions of the agreement and of the Reserve Bank of India Act, 1934, and in accordance with and subject to such orders as may from time to time be given to the Bank by the Central Government or the State Government, as the case may be. Central or State Government business is transacted at any of the offices, branches or agencies of the Bank for the time being in existence as may from time to time be so directed.

The Central Government as a general rule, operates on every office and branch of the Reserve Bank of India and on every branch of the State Bank of India throughout India acting as the agent of the Reserve Bank. The operations of each State are confined to the offices and branches of the two Banks which have been designated as falling within the area of the particular State.

The receipt and payment of money on behalf of a State outside its jurisdiction are ordinarily arranged through the Accountant-General of the State in which the transactions take place.

Note:— 

The Government of Jammu and Kashmir have not so far entered into agreement with the Reserve Bank of India for the conduct of their general banking business by the Bank.

 

 

𝗤1. Banker of the Government of Kerala is:

(A) Reserve Bank of India
(B) State Bank of India
(C) State Bank of Travancore

(D) Central Bank of India

 ANSWER:(A) Reserve Bank of India

𝐐2. The receipt and payment of moneys on behalf of a State outside its jurisdiction are ordinarily arranged through..................in which the transaction takes place.

(A) The Reserve Bank of India
(B) The Accountant General (A&E) of the concerned State
(C) Through the Finance Department of that State

(D) Accountant General (Audit) of that State

 ANSWER: (B) The Accountant General (A&E) of the concerned State

𝐐3. Which State Government have not entered into agreement with RBI for conduct of their general banking business?

(A) Jammu and Kashmir
(B) Arunachal Pradesh
(C) Sikkim

(D) Goa

 ANSWER: (A) Jammu and Kashmir

𝐐4. General banking business of a State Government is generally carried and transacted by which bank?

A:-Syndicate bank
B:-Central bank of India
C:-Reserve bank of India

D:-None of these

 ANSWER: C:-Reserve bank of India

𝐐5. The banking operations of each State are confined to the offices and branches of the two Banks which have been designated as falling within the area of the particular State.Which are those two banks?

A:-Reserve Bank of India and Indian Bank
B:-Indian Bank and Bank of India
C:-Reserve Bank of India and State Bank of India

D:-Industrial Development Bank of India and Industrial Credit and Investment Corporation of India

 ANSWER: C:-Reserve Bank of India and State Bank of India

𝐐6. General banking business of a State Government is generally carried and transacted by which bank?         

A:-Syndicate bank 
B:-Central bank of India 
C:-Reserve bank of India 

D:-None of these 

 ANSWER: C:-Reserve bank of India 

𝐐7. Receipt and payments of money on behalf of a State falling outside its jurisdiction are ordinarily arranged through which office?         

A:-Controller General of Accounts 
B:-Accountant General 
C:-Director of Treasuries 

D:-Finance Department 

 ANSWER: B:-Accountant General 

𝐐8. Banking business of the Government of Kerala is generally transacted by : 

(A) Reserve Bank of India 
(B) State Bank of India 
(C) Central Bank of India 

(D)None of the above

 ANSWER: (A) Reserve Bank of India 

10. Each office or branch of the Reserve Bank keeps to separate accounts of cash transactions undertaken by it on behalf of Government—one for the transactions of the Central Government and the other for the transactions of the State Government within whose area it is situated.

All transactions which cannot be debited or credited directly to the account of the Central Government with the Bank are taken to the account of the Government of the State in which they occur so that this account will include as well the transactions relating to other States. Separate statements of transactions in their Central and State Government accounts together with all supporting vouchers, etc., are transmitted by each office and branch of the Bank daily to the Treasury Officer or to the Accountant-General, as the case may be.

At the close of each month the balances of the two accounts are transferred to the Central Accounts Section of the Reserve Bank of Nagpur.

Note:—

The transactions of Railways, Posts and Telegraphs and Defence Services at offices and branches of the Reserve Bank are distinguished from other Central transactions in the initial accounts and are classified separately by each Railway, each Deputy Accountant-General, Posts and Telegraphs and each Controller of Defence Accounts respectively.

These transactions are taken against the Railway Fund, Posts and Telegraphs Account and Defence Accounts respectively in the books of the Reserve Bank direct and do not therefore pass through the Treasury Accounts or consequently through the accounts of the Civil Accountant-General with the exception of payments of pensions to Defence Pensioners. Each office and branch of the Bank furnishes to the Railway, Posts and Telegraphs and Defence Accounts Officer concerned every day a copy of the daily scroll relating to the transactions pertaining to him together with the requisite vouchers.

𝐐1. Who compiles the accounts of defence services as a whole?
A:-Comptroller and Auditor General
B:-Controller General of defence Accounts
C:-Ministry of Finance
D:-Director of treasuries

ANSWER:-B:-Controller General of defence Accounts

𝐐2. Each office or branch of the Reserve Bank keeps two separate accounts of cash transactions undertaken by it on behalf of the Government. The two accounts pertain to what?
A:-One for the transactions of the Central Government and the other for the transactions of the State bank of India

B:-One for the transactions of the State Government concerned and the other for the transactions of the state bank of India
C:-One for the transactions of the Central Government and the other for the transactions of the State within whose area the bank is situated
D:-None of these

ANSWER:-C:-One for the transactions of the Central Government and the other for the transactions of the State within whose area the bank is situated

𝐐3. ............... keeps two separate accounts of cash transactions undertaken by it on behalf of the Central Government and for the State . Governments within whose area the bank is situated. 

(A) Indian Bank

(B) Axis Bank 

(C) Reserve Bank 

(D) Bank of India

ANSWER:-(C) Reserve Bank 

𝐐4. Pension in respect of Defence Pensioners paid from a State treasury is initially accounted in the State accounts. 

(A) False

(B) True 

(C) Partly true

(D) None of the above 

ANSWER:-(B) True 

11. Each branch of the State Bank of India transacting Government business as agent of the Reserve Bank classifies the daily receipts and disbursements on behalf of Government in two groups, Central and State, the latter embracing transactions not only on behalf of the State in which the Bank is situated but also on behalf of other States. Separate statements of transactions of the Central Government and of those taken against the State account are forwarded by each branch daily with supporting vouchers to the local Treasury Officer or to the Accountant-General, as the case may be.

The totals of such transactions are also reported by the Bank at the close of each day to the Central Accounts Section of the Reserve Bank through the Central Accounts Office of the State Bank of India at Calcutta.

Note:—The procedure prescribed in the note under Article 10 is followed in respect of Railway, Posts and Telegraphs and Defence transactions taking place at the branches of the State Bank of India.

𝐐1. Which bank is transacting the business of Central and State Government as an agent of RBI ?
(A) Branches of RBI in each States
(B) State Bank of India
(C) All treasures
(D) Non-banking treasury

ANSWER:-(B) State Bank of India

12. Complete accounts of the Central Government and of each of the State Governments with the Bank are maintained by the Central Accounts Section of the Reserve Bank at Nagpur which also acts as a general clearing house for the adjustment of transactions between different Governments.

All adjustments to be made between the accounts of the Central Government and that of States or between accounts of different States as well as all payments which one of these Governments has to make to another are advised by the Accounts Officers authorized in this behalf to the Central Accounts Section of the Reserve Bank, which will pass the necessary entries in the accounts of the Governments concerned maintained in the books of the Bank. Details of transfers effected in its books against the balance of the State Government or of the Central Government, as the case may be, on account of adjustments advised by different Accounts Officers are communicated by the Central Accounts Section of the Bank to the Accountant-General concerned at the close of each day.

At the close of the accounts of each month a statement of closing balance of each Government on the books of the Bank after taking into account all cash transactions in all the offices, branches and agencies of the Bank and the adjusting transactions in its own books is forwarded by the Central Accounts Section to the Accountant-General concerned.

𝐐1. Complete accounts of the Central Government and of State Governments with the Bank are maintained by
(A) The Accountant General (A&E)
(B) The Finance Department
(C) The State Bank of India
(D) Central Account Section of the Reserve Bank at Nagpur

ANSWER:-(D) Central Account Section of the Reserve Bank at Nagpur

𝐐2. .................acts as a general clearing house for the adjustment of transactions between different Governments
(A) Office of the Comptroller and Auditor General of India
(B) Office of the Union Finance Minister
(C) Central Account Section of the Reserve Bank at Nagpur
(D) None of the above

ANSWER:-(C) Central Account Section of the Reserve Bank at Nagpur

𝐐3. At the close of the accounts of each month a statement of closing balance of each Government on the books of the Bank is forwarded by the Central Account Section to:
(A) The Concerned Accountant General
(B) The Finance Department concerned
(C) The concerned Treasury Department
(D) None of the above

ANSWER:-(A) The Concerned Accountant General

𝐐4. Where is the Central Accounts Section of RBI situated?
(A) Mumbai
(B) Kolkata
(C) New Delhi
(D) Nagpur

ANSWER:-(D) Nagpur

𝐐5. Which section of the Reserve bank of India maintains the complete accounts of the Central Government and of each of the State Governments with the State Bank of India? 

A:-Chief Accounts office of State bank of India 

B:-Central Accounts Section of Reserve bank of India 

C:-Chief Accounts office of central bank of India 

D:-None of these 

Correct Answer:- Option-B:-Central Accounts Section of Reserve bank of India  

𝐐6. Complete accounts of the Central Government and of each of the State  Governments with the Reserve Bank are maintained by 

A:-Central Account Section of State Bank of India at Kolkata 

B:-Comptroller and Auditor General of India 

C:-The Central Accounts Section of the Reserve Bank at Nagpur 

D:-None of these 

ANSWER:-C:-The Central Accounts Section of the Reserve Bank at Nagpur 

TRANSACTIONS OF OTHER GOVERNMENTS IN STATE TREASURIES

13. Cash balances held in a State Treasury form part of the Consolidated Fund, the Contingency Fund (if one has been established) and the Public Account of the State to which the Treasury belongs.

The Treasury Rules of each State Government issued under Article 283 of the Constitution, however provided that moneys may be received and payments may be made on behalf of the Central Government and other State Government by a State Treasury situated at a place where the treasury business is not conducted by the Bank, such receipts and payments being taken in the first instance against the cash balance of the State concerned.

On receipt of intimation of such transaction through the monthly Treasury Account or otherwise the Accountant-General makes the requisite adjustments through the Central Accounts  section of the Reserve Bank against the balances of the Central Government or other State Governments held by the Bank Moneys paid or received in the office of the Accountant-General on behalf of another State and book entries made in the office of the Accountant-General affecting the accounts of another State or Central Government will likewise be adjusted by the Accountant-General through the Central Accounts section of the Reserve Bank against the balances of the Central or State Government, as the case may be. But see Article 16(2).

𝐐1. Cash balance held in a State Treasury form part of the 

(A) Cash available from taxation proceeds after withdrawal departments

(B) Net savings

(C)Consolidated Fund, Contingency Fund and Public Account of the State to which the treasury belongs

(D) None of the above

ANSWER:-(C)Consolidated Fund, Contingency Fund and Public Account of the State to which the treasury belongs

𝐐2. Treasury Rules of each State Government is issued under Article  ........of the Constitution.

(A) 149

(B) 311

(C) 283

(D) 183

ANSWER:-(C) 283

𝐐3. The moneys received on behalf of Central Government and other State Government by a State Treasury where the treasury business is not conducted by the Bank, is to be taken in the first instance

(A) Against Exchange Accounts

(B) Against Suspense Account

(C)Against the cash balance of the State concerned

(D) None of the above

ANSWER:-(C)Against the cash balance of the State concerned

STATE TRANSACTIONS IN CENTRAL TREASURIES

14. Cash balances held in the Treasuries of the Central Government form part of the Consolidated Fund, Contingency Fund and the Public Account of India.

Transactions on behalf of State Governments arising in these treasuries are taken against Central balances in the first instance and are subsequently adjusted by the Accountant-General against the balance of the State concerned through the Central Accounts Section of the Reserve Bank.

𝐐1.Cash balances held in the Treasuries of the Central Government form part of the:
(A) Consolidated Fund of India
(B)Contingency Fund of India
(C) Public Account of India
(D) All the above

ANSWER:-(D) All the above

GENERAL OUTLINES OF THE SYSTEM OF ACCOUNTS 

15. The general outlines of the system of Accounts of the Central and State Governments briefly stated, are as follows:—

(a) All receipts in India on behalf of the Central and State Governments are paid into a treasury or the Bank. Except as provided in clause (b) below, the initial accounts of such receipts are maintained at the treasury. 

(b) Receipts realized in the Railways, Defence, Posts and Telegraphs, Public Works, Forest and any other departments which may be authorised in this behalf are paid into a treasury or the bank in lump and are accounted for at the treasury merely as receipt on behalf of such departments. The detailed accounts of such receipt are kept by the departmental officers concerned.

(c) Payments in India on behalf of the Central and State Governments are ordinarily made either at a Treasury or the Bank; some departmental officers are, however, authorised to withdraw sums in lump from a Treasury or the Bank for making payments.

In the former case, the initial accounts of payments are kept at the treasury. In the latter case, such accounts are maintained by the departmental officer concerned.

The accounts referred to in this clause do not relate to the accounts maintained by Government servants in respect of expenditure incurred from permanent advances.

(d) At the beginning of each month each Accountant-General receives from the treasuries under his jurisdiction monthly accounts supported by the requisite schedules, vouchers, etc., in respect of the transactions which took place  in the treasury during the previous month. All State and those Central treasuries, which render accounts to State Accountant-General, submit a double set of accounts one for transactions of the State Governments and the other for transactions of the Central Government. Central Treasuries which render accounts to the Accountant- General, Central Revenue furnish however only a single account, in which any transactions on behalf of State Governments are accounted for under the appropriate remittance head pending adjustment against the balances of the State concerned.

(e) Officers of the Civil Departments who pay their receipts into the Consolidated Fund or the Public Account or withdraw moneys for expenditure therefrom or from the Contingency Fund in lump, submit detailed accounts of their transactions to their respective Account Officers. Some departmental officers are required to render to the Account Officer compiled accounts with suitable abstracts of their transactions classified under prescribed heads of accounts.

(f) From the accounts furnished by treasuries and Civil Departmental Officers, departmental classified abstracts are compiled by the Civil Account Officers showing the monthly receipts and payments pertaining to each department for the whole account circle classified under the relevant major, minor, *sub and detailed heads.

Separate classified abstracts are maintained for each department, each group of small departments or each major head or group of major heads of account not relating to any particular department or departments according to local convenience. The transactions adjustable against a department or against a major head not relating to any particular department which are intimated to the Civil Account Officer by another Account Officer as well as all book adjustments against a departmental or other major head which are initiated in the Account Office itself are also incorporated in the relevant Departmental Classified Abstracts so that the latter may include monthly all transactions of whatever nature connected with the receipts and payments pertaining to each department or major head of account.

From these classified abstracts, separate Departmental Consolidated Abstracts showing the progressive totals month by month under major, minor, *sub and detailed heads of revenue receipts and service payments are compiled.

Separate Consolidated Abstracts are maintained for each department or major head of account or for a group of departments or major heads of account as may be found convenient.

The Departmental Classified Abstracts and the Departmental Consolidated Abstracts for the Central Departments are compiled separately from those for departments of the State Government.

*(g) The transactions relating to Debt, Deposit Advance etc., heads appearing in the treasury cash accounts and lists of payments and in the departmental and other abstracts are collected for the whole circle of account under each head of account from month to month in a Detail Book. From the figures in the Detail Book, the Consolidated Abstract of Debt, Deposit Advance, Remittance, Suspense etc., transactions in prepared showing the progressive total month by month under each major head in Public Debt and loans and Advances, etc., Section and in the Public Account. This Abstract also shows the details under such minor, sub and detailed heads as may be found necessary.

(h) The final stage of compilation is the preparation of the abstract of major head totals showing the receipts and disbursements by major heads during and to end of the month from the Departmental Consolidated Abstracts and the Consolidated Abstracts of Debt and Remittance Transactions. From these

Consolidated Abstracts are also compiled the monthly and the annual accounts of the Central and State Governments.

The cash balance of each Government in the books of the Accountants- General at the close of the month will then be reconciled with the balances shown in the cash accounts rendered by Treasury Officers and with the statements of closing balances received from the Central Accounts Section of the Reserve Bank.

(i) Departmental Officers of the Posts and Telegraphs and Railway Departments submit accounts of their transactions to the respective posts and Telegraphs and Railway Account Officers.

The Posts and Telegraphs and Railway Account Officers under their monthly accounts to the Accountant-General, Posts and Telegraphs and the Railway Board respectively, and the latter two consolidate the accounts of the entire transactions of these two departments.

The accounts of Defence Services as a whole are compiled by the Comptroller-General of Defence Accounts on the basis of particulars of receipts and disbursements furnished by the various Defence Accounts Officers.

(j) A copy of the monthly accounts of each State Government is submitted to it by Accountant-General concerned.

The Accountant-General, Central Revenues, receives from each Civil Account Office an Abstract of the account of the transactions of the Central Government compiled by it for each month and these accounts together with the accounts for the month prepared in his office are consolidated into a single monthly account for submission to the Central Government. The Accountant-General, Posts and Telegraphs and Railway Board submit the consolidated monthly accounts of their respective departments separately to the Central Government.

(k) Each Civil Account Officer works out the progressive figures during the year of the Central and State Accounts of his circle. On closing the adjustments for March Supplementary, a progressive account of State transactions is furnished by him to the State Government and that of the Central transactions is submitted to the Accountant-General, Central Revenues. A copy of the Account of Central transactions is furnished to the Comptroller and Auditor-General also.

(l) The consolidated annual accounts of the Posts and Telegraphs, Railways and Defence Services are submitted to the Accountant-General, Central Revenues by the Accountant-General, Posts and Telegraphs, Railway Board and the Comptroller-General of Defence Accounts, respectively. A copy of the consolidated annual accounts is submitted to the Comptroller and Auditor-General also.

𝐐1. The receipts on behalf of Central and State Governments are paid into: 

(A) Banks & Treasuries 

(B) Banks 

(C) Treasuries

(D) Securities

ANSWER:-(A) Banks & Treasuries 

𝐐2. The detailed accounts of the receipts and payments of..........................Department are not maintained in the treasury
(A) Education
(B) Medical
(C) Public Works
(D) Government Secretariat

ANSWER:-(C) Public Works

𝐐3. The receipts realised in Public Works and Forest Departments are paid into a treasury or the bank are accounted for at the treasury merely as receipts of such departments. The detailed accounts of such receipts are kept by:
(A) The departmental officer concerned
(B) The Accountant General (A&E)
(C) The Treasury itself
(D) None of these

ANSWER:-(A) The departmental officer concerned

𝐐4. Certain departmental officers are authorised to withdraw sums in lump from the bank for making payments. At where the initial accounts of payments will be kept?
(A) At the treasury
(B) At the Bank
(C) At the A.G.
(D) At the departmental officers

ANSWER:-(D) At the departmental officers

𝐐5. What is the departmental classified Abstract?
(A) Finance accounts
(B) Monthly transactions of all receipts and payments
(C) Expenditure on Public Accounts
(D) None of these

ANSWER:-(B) Monthly transactions of all receipts and payments

𝐐6. All monthly transactions nature connected department major head receipts and payments pertaining to or of account is called
(A) Monthly Accounts
(B) Combined Accounts
(C) Finance
(D) Departmental Classified Abstract

ANSWER:-(D) Departmental Classified Abstract

𝐐7. From where Departmental Consolidated Abstract progressive totals month by month under major, minor, sub and detailed heads of revenue receipts and service payments are:
(A) Departmental Classified Abstract
(B) Separate Departmental Classified Abstract
(C) Departmental Consolidated Abstracts
(D) Monthly Accounts

ANSWER:-(A) Departmental Classified Abstract

𝐐8. On the basis of particulars of receipts and disbursements by various Defence Accounts Officers, the accounts of Defence Services as whole are compiled by:
(A) The Comptroller-General of Defence Accounts
(B) The Comptroller and Auditor General
(C) The Defence Minister
(D) The Finance Minister of the Union Government

ANSWER:-(A) The Comptroller-General of Defence Accounts

𝐐9. The accounts of Accountant General.........................are not maintained by the:
(A) Defence
(B) Railway
(C) State
(D) (A) & (B)

ANSWER:-(D) (A) & (B)

𝐐10. copy of the monthly accounts of each State Government is submitted by the concerned:
(A) Director of Treasury
(B) Reserve Bank
(C) Accountant General
(D) None of the above

ANSWER:-(C) Accountant General

𝐐11. Who submits monthly accounts of the State of Kerala to the State?
(A) Director of Treasuries
(B)Controller General of Accounts
(C) Accountant General
(D) None of these

ANSWER:-(C) Accountant General

𝐐12. Where are the initial accounts of all receipts on behalf of the State Government generally maintained?
(A) Treasury
(B) Accountant General's Office
(C) Controller General of Accounts
(D) None of these

ANSWER:-(A) Treasury

𝐐13. Where are the initial accounts of all receipts on behalf of the State Government generally maintained?         

A:-Treasury 

B:-Accountant general's Office 

C:-Controller general of Accounts 

D:-None of these 

ANSWER:-A:-Treasury 

𝐐14. In the beginning of each month, to which office the treasuries submit the accounts supported by the requisite schedules, vouchers, etc., in respect of the transactions which took place in the treasury during the previous month? 

A:-Accountant-General 

B:-Director of treasuries 

C:-Department of Finance 

D:-Controller General of Accounts 

ANSWER:-A:-Accountant-Genera

𝐐15. Who submits monthly accounts of the State of Kerala to the State? 

A:-Director of Treasuries 

B:-Controller general of Accounts 

C:-Accountant General 

D:-None of these 

ANSWER:-C:-Accountant General 

    

𝐐16. Who compiles the accounts of defence services as a whole? 

A:-Comptroller and Auditor General 

B:-Controller General of defence Accounts 

C:-Ministry of Finance 

D:-Director of treasuries 

ANSWER:-B:-Controller General of defence Accounts 

𝐐17. From where Departmental Consolidated Abstracts showing progressive totals month by month under major, minor, sub and detailed heads of revenue receipts and service payments are compiled: 

(A) Departmental Classified Abstracts 

(B) Separate Departmental Classified Abstracts 

(C) Departmental Consolidated Abstracts 

(D) Departmental Monthly Accounts

ANSWER:-(A) Departmental Classified Abstracts 

𝐐18. The detailed accounts of receipts and Payments of department are not being

maintained in the Treasuries.
(A) Education
(B) Govt Secretariat
(C) Public Works
(D) Legislature

ANSWER:-(C) Public Works

𝐐19. The accounts of ..................... are not maintained by the Accountant General 

(A) Defence

(B) Railway 

(C) State

(D) (A) & (B) 

ANSWER:-(D) (A) & (B) 

𝐐20. A copy of the monthly accounts of each State Government is submitted to it by the concerned........... 

(A) Director of Treasuries 

(B) Reserve Bank 

(C) Accountant General

(D) None of the above

ANSWER:-(C) Accountant General

ACCOUNTS BETWEEN DIFFERENT ACCOUNT CIRCLES 

16. (1) Subjects to any general or special orders issued by Government after consultation with the Comptroller and Auditor-General, transactions in one account circle which are adjustable in the accounts of another circle are passed on month by month to the latter for adjustment through one or the other of the following accounts:—

(i) Exchange Accounts

(ii) Settlement Accounts

(2) Civil Accounts Officers utilise the media Exchange Accounts for passing on transactions of Central Government which are adjustable on the books of other Account Officers excepting Railway, Posts and Telegraphs and Defence Account Officers. Book transactions arising in the central section of the accounts of a Civil Accounts Officer which are adjustable in the accounts of the State kept by another Account Officer are also passed on through Exchange Accounts so that the latter Account Officer may adjust the transaction against the balance of the State*.

(3) Deleted

(4) Transactions initially taken against the balance of a State which are eventually adjustable against the balance of another State are passed on to the Accountant-General of the latter State through the Settlement Accounts and the money settlement between the two States in respect of such transactions is effected by the Accountant-General of the former State through the Central Accounts Section of the Reserve Bank.

Transactions appearing in the books of Civil, Railway, Posts and Telegraphs or Defence Accounts Officers, which are adjustable in the books of one of the other Accounts Officers, are also settled through the machinery of the Central Accounts Section of the Reserve Bank and the accounts through which such transactions are passed on to or by Railways, Posts and Telegraphs and Defence Account Officers fall under the category of the Settlement Accounts**.

(5) In respect of transactions originating in their accounts which are adjustable against the balances of a State Government, the Accountant-General, Central Revenues and the Deputy Accountant-General, Industry and Supply, and Food and Rehabilitation, effect the necessary money settlement through the Central Accounts Section of the Reserve Bank, the transactions being passed by them through the head “Adjusting Account between Central and State Governments”.

Transactions pertaining to State Governments are also settled direct with the Bank through the head “Adjusting Account between Central and State Governments”. An account of the transactions passed through this head is furnished by these Account

Officers to the State Accountant-General or Comptroller concerned for final adjustment. This accounts falls under the category of Settlement Accounts mentioned in clause (4) above.

(6) Transactions of the Central and State Governments in the United Kingdom except those representing genuine sterling assets and liabilities of the Central Government are passed on to India monthly through the Accounts Current  between England and India for adjustment under appropriate heads of accounts in the books of the various Account Officers in India.†

(7) The monthly Centre and State Accounts of each account circle thus include not only the receipts and disbursements of the circle but also the receipts and expenditure in the United Kingdom and all credit and debits passed on to it for adjustment by other account circles in India.

Note: —The term ‘Account Current’ may be used in a general sense to include the different classes of accounts mentioned in this Article as well as the accounts with Governments of other countries.  

An Account Current purports to be an extract from the books of the officer who dispatches it, and to show the amounts he has passed to debit or credit of the other party to the account, with any necessary explanations of the credits and with documents supporting the debits.

 

𝐐1. Transactions initially taken against the balance of a State which are eventually adjustable against the balance of another State are passed on to the A.G. of the latter State through:
(A) The Settlement Accounts
(B) The Exchange Accounts
(C) The Account Circles
(D) The Account Current

ANSWER:-(A) The Settlement Accounts

𝐐2. The term used in a general sense to include the different classes of accounts as well as the accounts with Government of other countries is known as
(A) The Account Circles
(B) The Account Current
(C) The Appropriation Account
(D) The Annual Accounts Annual Finance Accounts

ANSWER:-(B) The Account Current

𝐐3.Transactions initially taken against the balance of a State which are eventually adjustable to the balance of another State are passed on to the Accountant General of the latter State through which accounts?
A:-Settlement accounts
B:-Exchange accounts
C:-Suspense Accounts
D:-None of these

ANSWER:-A:-Settlement accounts

𝐐4..Money settlement of transactions initially taken against the balance of state which are eventually adjustable to the balance of State is effected through which office?
A:-Central Accounts Section of RBI
B:-Directorate of treasuries
C:-Central Bank of India
D:-Union bank of India

A:-Central Accounts Section of RBI

ANSWER:-A:-Central Accounts Section of RBI

𝐐5..Subject to any general or special orders issued by Government after consultation with the Comptroller and Auditor-General, transactions in one account circle which are adjustable in the accounts of another circle are passed on month by month to the latter for adjustment through one or the other of the following accounts. Which are those accounts? 

 A:-Exchange Accounts and Account Current 

B:-Settlement Accounts and Account Current 

C:-Account Current and Public Account 

D:-Exchange Accounts and Settlement Accounts 

ANSWER:-D:-Exchange Accounts and Settlement Accounts 

𝐐6.:-Transactions initially taken against the balance of a State which are eventually adjustable to the balance of another State are passed on the Accountant General of the latter State through which accounts? 

A:-Settlement accounts 

B:-Exchange accounts 

C:-Suspense Accounts 

D:-None of these 

ANSWER:-A:-Settlement accounts 

𝐐7.:-Money settlement of transactions initially taken against the balance of state which are eventually adjustable to the balance of State is effected through which office? 

A:-Central Accounts Section of RBI 

B:-Directorate of treasuries 

C:-Central Bank of India 

D:-Union bank of India 

ANSWER:-A:-Central Accounts Section of RBI 

ANNUAL FINANCE ACCOUNTS OF THE CENTRAL
AND STATE GOVERNMENTS

17. The annual accounts of each State Government and the Appropriation Accounts are submitted to the Governments of the respective States in pursuance of the provisions of paragraph 11 (4) of the Audit and Accounts Order, 1936.

These annual accounts which are known as the Finance Accounts are prepared by each State Accountant-General as soon as the March Final Accounts are closed in a form prescribed by the Comptroller and Auditor-General with the approval of the President and submitted to the Comptroller and Auditor-General for approval and transmission to the Governor of the State Concerned.

*The Finance Accounts of the Central Government which are required to be submitted by the Comptroller and Auditor-General to the Central Government under the provision of the Audit and Accounts Order, 1936, aforesaid are prepared by the Accountant General, Central Revenues.

The Appropriation Accounts of the Central Civil Departments and of the Posts and Telegraphs Department are prepared by the Accountant-General, Central Revenues, and the Accountant-General, Posts and Telegraphs respectively and submitted by the Comptroller and the Auditor-General to the President. The Appropriation Accounts of Railways and of the Defence Services are prepared by the Accounting Authorities of those Departments under the direction of the Ministry of Railways (Railway Board) and Financial Adviser, Ministry of Finance (Defence) respectively.

𝐐1.The form of Finance Accounts is prescribed by whom? 

A:-The Finance Department of the state 

B:-The Directorate of treasuries 

C:-The Comptroller and Auditor General 

D:-None of these

ANSWER:- C:-The Comptroller and Auditor General 

𝐐2.. For transmission to the Governor, Finance Accounts are prepared by
(A) The Finance Minister of India submitted to Prime Minister of India
(B) The Finance Minister of India submitted to the Speaker of the Legislative Assembly
(C) The Finance Minister of India submitted to the President of India
(D) The Accountant General of the State submitted to the Comptroller and Auditor General of India

ANSWER:-

𝐐3-The annual accounts of the State which are known as the Finance Accounts  are prepared by whom? 

A:-The finance department of the state 

B:-The Directorate of treasuries 

C:-The State Accountant-General 

D:-None of these 

ANSWER:-C:-The State Accountant-General 

𝐐4.. Annual Finance Accounts of the States are prepared by:
(A) C&AG
(B) Accountant General (Audit)
(C) Accountant General (A&E)
(D) Finance Department

ANSWER:-(C) Accountant General (A&E)

𝐐5.. The form of Finance Accounts is prescribed by whom?
A:-The Finance Department of the state
B:-The Directorate of treasuries
C:-The Comptroller and Auditor General
D:-None of these

ANSWER:-C:-The Comptroller and Auditor General

𝐐6.. Who prescribes the form of Annual Finance Accounts of the State?
(A) Controller General of Accounts with the approval of Governor
(B) Comptroller and Auditor General with the approval of President
(C) Director of Treasuries with the approval of State Cabinet
(D) Finance Department

ANSWER:-(B) Comptroller and Auditor General with the approval of President

𝐐7.. State Accountant General with due approval of CAG submits the State Annual Finance Accounts to whom?
A:-Governor of the State
B:-President of India
C:-Comptroller and Auditor General
D:-Reserve Bank of India

ANSWER:-A:-Governor of the State

𝐐8.. Finance Accounts of Kerala State are prepared by whom?
(A) Finance Department
(B) Director of Treasuries
(C) State Secretariat
(D) Accountant General of the State

ANSWER:-(D) Accountant General of the State

𝐐9..The form of Finance Accounts is prescribed by whom? 

A:-The Finance Department of the state 

B:-The Directorate of treasuries 

C:-The Comptroller and Auditor General 

D:-None of these 

ANSWER:-

𝐐10..:-Finance Accounts of Kerala State is prepared by whom? 

A:-Finance Department 

B:-Director of Treasuries 

C:-State Secretariat

D:-Accountant General of the State 

ANSWER:-D:-Accountant General of the State 

𝐐11..Who is the authority to submit the annual Finance Accounts of Central Government to the central Government?         

A:-Finance Ministry 

B:-Director of Treasuries 

C:-Comptroller and Auditor general 

D:-Reserve bank of India

ANSWER:- C:-Comptroller and Auditor general 

𝐐12..:-State Accountant General with due approval of CAG submits the State Annual Finance Accounts to whom?         

A:-Governor of the State 

B:-President of India 

C:-Comptroller and Auditor General 

D:-Reserve Bank of India

ANSWER:- A:-Governor of the State 

THE COMBINED FINANCE AND REVENUE ACCOUNTS OF THE
CENTRAL AND STATE GOVERNMENTS IN INDIA

 

18. Besides the Annual Finance Accounts of the Central Government, the Comptroller and Auditor-General is also required to submit to the President annually under paragraph 12 of the Audit and Accounts Order, 1936, a General Financial Statement incorporating a summary of the accounts of the Central Government and of all the States for the last proceeding financial year in such form as he with the concurrence of the President may determine.

This General Financial Statement which is called the Combined Finance and Revenue Accounts of the Central and State Governments in India, presents the transactions of all the Governments side by side classified under the several major and minor heads of accounts classification, thus incidentally enabling a comparison to be made for statistical or other purposes of the receipts and expenditure of the several Governments pertaining to each branch of administration or to activities of a similar nature.*

𝐐1.. The Combined Finance and Revenue Accounts of the Union and State Governments are prepared by the :

(A) Comptroller and Auditor General

(B) Chartered Accountant

(C) Finance Department of concerned Governments

(D) None of the above

ANSWER:- (A) Comptroller and Auditor General

𝐐2.. The Combined Finance and Revenue Accounts of the Central and States Govts, is required to submit to the President by:

(A) Finance Department

(B) Reserve Bank of India

(C) Comptroller and Auditor General

(D) Accountant General

ANSWER:- 

𝐐3. Comparison of the receipt / expenditure of any activity, of several Governments can be derived:

(A) Finance Accounts of the Union

(B) Finance Accounts of the States

(C) General Financial Statement

(D) Pro forma Accounts

ANSWER:- (C) General Financial Statement

𝐐4.The comparison of receipt and expenditure of any activity of State/Central Govt can be derived from:

(A) Finance account

(B) Proforma account

(C) General financial statement

(D) None of these

ANSWER:- (C) General financial statement

𝐐5. The Government's general financial statement will not represent the transactions of:

(A) Union Territory

(B) State Government

(C) Union Government

(D) Public Undertakings

ANSWER:- (D) Public Undertakings

𝐐6. General Financial Statement presents the transactions of ........ Governments.

(A) States

(B) Union

(C) Union Territory

(D) All the three above

ANSWER:- (D) All the three above

𝐐7.Annual General Financial Statement submitted by CAG to the president represents what?

A:-Summary of accounts of Central Government

B:-Summary of accounts/Transactions of all state governments side by side

C:-Summary of accounts/transactions of central and all state governments side by side

D:-None of these

ANSWER:- C:-Summary of accounts/transactions of central and all state governments side by side

𝐐8.-Besides the Annual Finance Accounts of the Central Government, the  Comptroller and Auditor-General is also required to submit to the President annually a General Financial Statement incorporating what? 

A:-Combined Finance Accounts of all States 

B:-Combined Revenue Accounts of all States 

C:-Combined Finance and Revenue Accounts of the Central and State Governments  in India 

D:-Combined Finance and Revenue Accounts of the Central and Union Territories in  India 

ANSWER:- C:-Combined Finance and Revenue Accounts of the Central and State Governments  in India 

PROFORMA ACCOUNTS 

19. The operations of some departments of Governments sometimes include undertakings of a commercial or a quasi-commercial character, e.g., an industrial factory or a store. Even though these may be maintained almost entirely for the benefit of the department, it is still necessary that the financial results of the undertaking should be expressed in the normal commercial form so that the cost of the service or undertaking may be accurately known.

This implies the maintenance of suitable capital, manufacturing, trading and profit and loss accounts, and as the Government system of accounts, being on a purely cash basis, is unsuitable for such commercial accounts, these are usually kept on a pro forma basis outside the general accounts of Government. The actual transactions entering these pro forma accounts except those adjusted on a liability basis, find a place primarily in the regular accounts and the commercial accounts are additional as well as separate. These pro forma accounts are maintained by the departmental authorities themselves in such form as may be agreed upon between the Comptroller and Auditor-General and the Government concerned

Certain pro forma accounts relating to Irrigation, Navigation, Embankment and Drainage Projects and Government residential buildings are required to be prepared by Civil Account Offices. Pro forma accounts are also sometimes required to be prepared for transactions which do not relate to commercial or quasi-commercial undertaking of Government, e.g., transactions of the Famine Relief Fund.

The form in which any pro forma accounts are prepared in Account Offices is determined by the Comptroller and Auditor-General in consultation with Government concerned.

Local Ruling under Article 19.—

In the State of Kerala pro forma accounts (i.e., manufacturing, trading, profit and loss, etc., accounts) are maintained outside the regular Government accounts for the following Commercial Departments:—

1. The P.W.D. Engineering Workshop, Trivandrum.

2. The textbook Department.

3. Irrigation Schemes and Projects for which revenue and capital accounts are kept.

4. The State Water Transport Department.

5. Model Coir Factory, Beypore.

6. Bleaching and Calendaring Plant, Pappanamcode.

 

 

𝐐1.. The operations of some departments of Govt. include undertaking of a commercial or quasi commercial character, the financial, transactions of the undertakings are kept in the normal commercial form called:

(A) Technical Accounts
(B) Pro forma Accounts
(C) Appropriation Accounts

(D) Finance Accounts

ANSWER:- (B) Pro forma Accounts

𝐐2..Proforma accounts of certain departments are prepared and maintained by

(A) Concerned departmental authorities
(B) Labour Department
(C) Finance Department

(D) Director of State Audit Department

ANSWER:- (A) Concerned departmental authorities

𝐐3..The form in which any pro forma accounts are prepared in Account Offices is determined by :

(A) Accountant General
(B) Accounts Officer
(C) Finance Department

(D) Comptroller and Auditor General

ANSWER:- (D) Comptroller and Auditor General

𝐐4.Pro forma accounts are maintained for ......... Departments in Kerala

(A) Civil Departments
(B) Commercial Departments
(C) P.W. Divisions

(D) All Government departments

ANSWER:- (B) Commercial Departments

𝐐5.Certain pro forma accounts relating to Irrigation, Navigation, Embankment and Drainage Projects and Government residential buildings are required to be prepared by

(A) Civil Account Offices

(B) Accounts Officers

(C) Civil Departmental Officers

(D) None of these

ANSWER:- (A) Civil Account Offices

𝐐6.. The proforma accounts of the departments are prepared and maintained by:

(A) Finance department

(B) Director of treasuries

(C) Concerned Department

(D) C and AG

ANSWER:- (C) Concerned Department

𝐐7.. The proforma accounts are prepared for the:

(A) Commercial establishment

(B) Companies

(C) Major Service department

(D) All government department

ANSWER:- (A) Commercial establishment

𝐐8..The accounts through which the financial results of some departmental undertakings of a commercial or quasi commercial character can be presented is known as:

(A) Commercial Accounts

(B) Pro forma Accounts

(C) Departmental Accounts

(D) Settlement Accounts

ANSWER:- (B) Pro forma Accounts

𝐐9.. In the State of Kerala pro form a accounts are maintained outside the regular Government accounts for the following commercial departments except one. Which is that?

(A) The textbook Department

(B) Irrigation Schemes and Project for which revenue and capital accounts are kept

(C) The State Water Transport Department

(D) Medical Education Department

ANSWER:- (D) Medical Education Department

𝐐10..Which among the following is NOT a Departmental Commercial Undertaking in the state of Kerala Maintaining pro forma accounts?

A:-The P.W.D. Engineering Workshop, Trivandrum

B:-The Text Book Department

C:-The State Water Transport Department

D:-Kerala Civil Supplies Corporation

ANSWER:- D:-Kerala Civil Supplies Corporation

𝐐11..Which among the following is the Department of Kerala Government of maintaining proforma accounts outside the regular accounts?

(A) State Water Transport Department

(B) Animal Husbandry Department

(C) Agriculture Department

(D) None of the above

ANSWER:- (C) Agriculture Department

𝐐12.. Which among the following statements is TRUE in regard to Pro forma Accounts of Departmental Commercial Undertakings?

A:-The actual transactions entering these Pro forma Accounts except those adjusted on a liability basis, find a place primarily in the regular accounts

B:-The pro forma accounts as such are part of general accounts

C:-Pro forma accounts are kept purely on cash basis

D:-All are true

A:-The actual transactions entering these Pro forma Accounts except those adjusted on a liability basis, find a place primarily in the regular accounts

ANSWER:- A:-The actual transactions entering these Pro forma Accounts except those adjusted on a liability basis, find a place primarily in the regular accounts

𝐐13.. What is the separate account maintained by Departmental commercial undertakings to ascertain the financial results of such undertakings, in addition to the regular accounts known as?

A:-Settlement Accounts

B:-Exchange Accounts

C:-Proforma Accounts

D:-None of these

ANSWER:- 

𝐐14.. What is the separate account maintained by departmental commercial undertakings to ascertain the financial results of such undertakings, in addition to the regular accounts known as?

(A) Settlement Accounts

(B) Exchange Accounts

(C) Proforma Accounts

(D) None of these

ANSWER:- (C) Proforma Accounts

𝐐15.. The operation of some departments of Govt sometimes include undertakings of a commercial or a Quasi Commercial character. In such cases to ascertain their financial results certain sets of accounts are to be maintained which are generally known as

A:-commercial accounts

B:-trading accounts

C:-double entry accounts

D:-proforma accounts

ANSWER:- D:-proforma accounts

𝐐16..:-Proforma accounts are maintained by whom? 

A:-Comptroller and Auditor general 

B:-The departmental authorities 

C:-Chartered Accountants appointed by Government 

D:-None of these

ANSWER:- B:-The departmental authorities 

 

𝐐17..Which among the following is a commercial department? 

A:-Forest 

B:-Text Book Department 

C:-Commercial taxes department 

D:-Agriculture department 

ANSWER:- B:-Text Book Department 

𝐐18..:-Which among the following is NOT a Departmental Commercial Undertaking in the state of Kerala Maintaining pro forma accounts?         

A:-The P.W.D. Engineering Workshop, Trivandrum 

B:-The Text Book Department 

C:-The State Water Transport Department 

D:-Kerala Civil Supplies Corporation 

ANSWER:- D:-Kerala Civil Supplies Corporation 

𝐐19..:-Which among the following statements is TRUE in regard to Pro forma Accounts of Departmental Commercial Undertakings? 

A:-The actual transactions entering these Pro forma Accounts except those adjusted on a liability basis, find a place primarily in the regular accounts 

B:-The pro forma accounts as such are part of general accounts 

C:-Pro forma accounts are kept purely on cash basis 

D:-All are true 

ANSWER:-A:-The actual transactions entering these Pro forma Accounts except those adjusted on a liability basis, find a place primarily in the regular accounts 

𝐐20..:-What is the separate account maintained by Departmental commercial undertakings to ascertain the financial results of such undertakings, in addition to the regular accounts is known as? 

A:-Settlement Accounts 

B:-Exchange Accounts 

C:-Proforma Accounts 

D:-None of these

ANSWER:- C:-Proforma Accounts 

 

𝐐21.:-Which among the following Department of Kerala Government of maintaining proforma accounts outside the regular Government accounts? 

A:-State Water Transport department 

B:-Animal husbandry Department 

C:-Agriculture department 

D:-None of the above 

ANSWER:- A:-State Water Transport department 

𝐐22..:-The operation of some departments of Govt sometimes include undertakings of a commercial or a Quasi Commercial character. In such cases to ascertain their financial results certain sets of accounts are to be maintained which are generally known as 

A:-commercial accounts 

B:-trading accounts 

C:-double entry accounts 

D:-proforma accounts

ANSWER:- D:-proforma accounts

 

𝐐23..Rules enjoin the maintenance of proforma accounts in respect of departmental undertaking of a commercial or quasi commercial character to ascertain the financial results. Who is the authority designated for maintenance of such accounts and who prescribes its forms ?

(A) both by Accountant General

(B) maintained by departmental authority and form prescribed by Government

(C) maintained by departmental authorities in such form agreed between C and AG and State Government concerned

(D) maintained by departments - Forms as prescribed by Finance Department 

ANSWER:- (C) maintained by departmental authorities in such form agreed between C and AG and State Government concerned

 

 

JOURNAL AND LEDGER

20. The accounts of Government are based in the main on the single entry system and double entry system is applied only in regard to the maintenance of a set of technical accounts called the Journal and Ledger.

ഗവൺമെന്റിന്റെ അക്കൗണ്ടുകൾ പ്രധാനമായും സിംഗിൾ എൻട്രി സിസ്റ്റത്തെ അടിസ്ഥാനമാക്കിയുള്ളതാണ്, ജേണൽ&ലെഡ്ജർ എന്ന ഒരു കൂട്ടം സാങ്കേതിക അക്കൗണ്ടുകളുടെ പരിപാലനം സംബന്ധിച്ച് മാത്രമാണ് ഡബിൾ എൻട്രി സംവിധാനം പ്രയോഗിക്കുന്നത്.

    The main purpose of the Journal and Ledger is to bring out by a scientific method the balances of accounts in regard to which Government acts as a banker or remitter or borrower or lender.ജേർണലിന്റെയും ലെഡ്ജറിന്റെയും പ്രധാന ലക്ഷ്യം ഒരു ബാങ്കർ അല്ലെങ്കിൽ പണമടയ്ക്കുന്നയാൾ അല്ലെങ്കിൽ വായ്പയെടുക്കുന്നയാൾ അല്ലെങ്കിൽ കടം കൊടുക്കുന്നയാൾ ആയി പ്രവർത്തിക്കുന്ന അക്കൗണ്ടുകളുടെ ബാലൻസ് ഒരു ശാസ്ത്രീയ രീതിയിലൂടെ പുറത്തു കൊണ്ടുവരിക എന്നതാണ്.

Though such balances are worked out in the regular Government accounts, their accuracy can be guaranteed only by a periodical verification with the balances brought out in the double entry accounts. സാധാരണ ബാലൻസ് അക്കൗണ്ടുകളിൽ ഇത്തരം ബാലൻസുകൾ വർക്കൗട്ട്ചെയ്തിട്ടുണ്ടെങ്കിലും, ഇരട്ട എൻട്രി അക്കൗണ്ടുകളിൽ കൊണ്ടുവന്ന ബാലൻസുകളോടുകൂടിയ ആനുകാലിക പരിശോധനയിലൂടെ മാത്രമേ അവയുടെ കൃത്യത ഉറപ്പ് വരുത്താനാകൂ.

    State Accountant-Generals maintain separate Journals and Ledgers for transactions of the Central Government and of the State Government. The Accountant-General, Central Revenues also maintains a Journal and Ledger for Central transactions which is posted from the final accounts of each year received from all Account Officers in India.

    സംസ്ഥാന അക്കൗണ്ടന്റ്-ജനറൽമാർ കേന്ദ്ര സർക്കാരിന്റെയും സംസ്ഥാന സർക്കാരിന്റെയും ഇടപാടുകൾക്കായി പ്രത്യേക ജേണലുകളും ലെഡ്ജറുകളും പരിപാലിക്കുന്നു. അക്കൗണ്ടന്റ്-ജനറൽ, സെൻട്രൽ റവന്യൂസ്, ഇന്ത്യയിലെ എല്ലാ അക്കൗണ്ട് ഓഫീസർമാരിൽ നിന്നും ലഭിക്കുന്ന ഓരോ വർഷത്തെയും അവസാന അക്കൗണ്ടുകളിൽ നിന്ന് പോസ്റ്റ് ചെയ്യുന്ന സെൻട്രൽ ഇടപാടുകൾക്കായി ഒരു ജേണലുംലെഡ്ജറും പരിപാലിക്കുന്നു.

𝐐1.The accounts of Government are based in the main on:

(A) Double Entry System

(B) Journal and Ledger

(C) Single Entry System

(D) No loss no profit system

ANSWER:- (C) Single Entry System

𝐐2..Government accounts are generally maintained in which accounting system?

(A) Single entry system

(B) Double entry system

(C) Hybrid system

(D) None of these

ANSWER:- (A) Single entry system

𝐐3..A set of technical accounts, the purpose of it is to bring out by a scientific method of balances of accounts in regard to which Government acts as ..........

(A) Banker

(B) Remitter

(C) Borrower

(D) All of the above

ANSWER:- (D) All of the above

𝐐4..Government accounts are generally maintained in which accounting system? 

(A)Single entry system 

(B) Double entry system 

(B) Hybrid system 

(B) None of these

ANSWER:- (A)Single entry system

𝐐5.. The ledger for transactions of the state Govt is maintained by:

(A) The Finance Secretary

(B) Accountant General (A and E)

(C) State Performance Auditor

(D) None of these

ANSWER:- (B) Accountant General (A and E)