MCQ on Budget
1. Total number of erstwhile Demands in OWE - Ordinary Working Expenses of Zonal Railways ?
Answer 1: 13
Answer 2: 11
Answer 3: 15
Answer 4: 16
2. Total number of erstwhile Demands in Indian Railways (prior to merger - including both Revenue and Capital)
Answer 1: 16
Answer 2: 15
Answer 3: 13
Answer 4: 1
3. Which fund is described as "Reservoir of Government Money" ?
Answer 1: Public Account of India
Answer 2: Deposit with RBI
Answer 3: Consolidated Fund of India
Answer 4: Central Government Treasury
4. Recovery of Provident Fund is accounted in ?
Answer 1: Contingency Fund of India
Answer 2: Consolidated Fund of India
Answer 3: Public Account of India
Answer 4: Staff Benefit Fund
5. Commercial Accounts of Indian Railways are known as Capital & Revenue Accounts. Answer True or False
Answer 1: True
Answer 2: False
6. Government Accounts of Indian Railways are known as Capital & Revenue Accounts. Answer True or False
Answer 1: True
Answer 2: False
7. One of the options is not example of Charged expenditure
Answer 1: Salary of Cabinet Secretary
Answer 2: Judgement/award of Court
Answer 3: Pay & allowance of C&AG
Answer 4: Pay & allowance of Chief Election Commissioner
8. Pick out the odd man out
Answer 1: Staff Benefit Fund
Answer 2: Contingency Fund of India
Answer 3: Public Account of India
Answer 4: Consolidated Fund of India
9. Budget is a ________________ and _______________ document as per Indian Railway Finance Code Volume One (Chapter 3)
Answer 1: Constitutional , Management
Answer 2: Financial, Audit
Answer 3: Financial, Constitutional
Answer 4: Financial, Audit
10. As per Article 112(1) of Constitution of India, A statement of the estimated receipts and expenditure of the Government of India for that year’ referred to as the "__________________________" and popularly called the "__________________".
Answer 1: annual financial statement, Annual Budget
Answer 2: Annual Budget, Annual Financial Statement
Answer 3: Annual Fiscal document, Management document
Answer 4: None of these
11. Which one is not example of Charged Expenditure in case of Indian Railways
Answer 1: Salary and allowances of Chairman, RRB - Railway Recruitment Board
Answer 2: The salary, allowances and pension payable to or in respect of the CAG -Comptroller and Auditor General of India;
Answer 3: Any sums required to satisfy any judgement, decree or award of any Court or awards by Arbitrators where made into rule of court
Answer 4: Any other expenditure declared by the Constitution or by Parliament by law to be so charged
12. The Demands shall be for _____expenditure ; the credits or recoveries being shown in the form of _________ Demands.
Answer 1: Net, footnotes to
Answer 2: Gross, deducted from
Answer 3: Gross, footnotes to
Answer 4: Net, deducted from
13. The erstwhile Demands No. 1, 2 & 3 are in the nature of _______________
Answer 1: covering all Zonal Railways
Answer 2: Covering Railway Board only
Answer 3: Ordinary Working Expenses
Answer 4: General on cost
14. There is a single works erstwhile Demand No. 16 for all works Expenditure irrespective of source of financing. Say True or False
Answer 1: True
Answer 2: False
15. First two digits in classification/allocation of erstwhile Demand No. 16 is ____________
Answer 1: Demand Number
Answer 2: Source of Finance
Answer 3: Plan Head
Answer 4: Activity
16. First two digits in Revenue classification shows ______
Answer 1: Source of Finance
Answer 2: Erstwhile Demand Number
Answer 3: Single Demand Number 83 (for 2020-21 FY)
Answer 4: Activity
17. Last two digits in Revenue/Capital classification shows_______
Answer 1: Main activity
Answer 2: erstwhile Demand Number
Answer 3: Sub activity
Answer 4: None of these
18. Total digits in Revenue classification/allocation are ____
Answer 1: 8
Answer 2: 7
Answer 3: 6
Answer 4: 9
19. Total digits in Capital classification/allocation are ____
Answer 1: 6
Answer 2: 7
Answer 3: 8
Answer 4: 9
20. Each erstwhile Demand has two-way classification by activity and by Primary units of expenditure. The activity classification identifies _______an expense item is incurred and Primary unit identifies ______ the expense item denotes
Answer 1: Why, What
Answer 2: What, Why
Answer 3: Object, Why
Answer 4: What, Object
21. Ordinary Working Expenses (OWE) consists of ________
Answer 1: Erstwhile Demands 1 to 16
Answer 2: Erstwhile Demands 1 to 15
Answer 3: Erstwhile Demands 3 to 13
Answer 4: Erstwhile Demands 1 & 2
22. GWE - Gross Working Expenses consists of _______
Answer 1: Erstwhile Demands 1 to 15
Answer 2: Erstwhile Demands 1 to 16
Answer 3: Erstwhile Demands 3 to 13
Answer 4: Erstwhile Demands 1 to 14
23. Preparation of the Revised and Budget Estimates should commence at the '__________ level ’
Answer 1: Railway Board
Answer 2: Zonal Railway Headquarters
Answer 3: Grass Root, i.e., Division, Stores Depot, Workshop etc
Answer 4: Divisional Railway Headquarters
24. Accounts Dept (PFA) responsibility towards Budget is _______
Answer 1: Preparation
Answer 2: Compilation and scrutiny
Answer 3: Guidance to Executives
Answer 4: Approving
25. Credits or recoveries shall be __________from the scope of the demands presented for vote of Parliament :-
Answer 1: Excluded
Answer 2: Included
26. The Grants are distributed by the Railway Board among the railway administrations are called as ______________and the orders by means of which the allotments are made are called as ______________
Answer 1: Allotments, Budget Orders
Answer 2: Budget Orders, Allotments
Answer 3: Spending Limit, Allotments
Answer 4: Allotments, Spending Limit
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