Story Behind MCQ
Source: General Expenditure Question Paper of Appendix2 Exam 2023 of WR - MCQ No.16
Q. Material At Site account is a _________ head
Major B. Minor C. Final D. Suspense
The Correct answer is D.
Now it's time to check why A, B & C are not correct Answers. Also we should know, to make A, B, & C correct answers, what would be the Questions.
With that, We can acquire good knowledge and also be ready to face other questions.
Major Head: It is a top level (of 6 levels) in hierarchy of classification of Government expenditure
Structure of Booking of expenditure / earnings in Indian Railways
Note: Still, allocation/classification structure aligns with erstwhile Demand No. 03 - for Sub Major Head 01 -" General Superintendence & Services"
Nearly 500 Major Heads exist in Government Accounts
Important Major Heads in Indian Railways (within brackets are Erstwhile Demand Numbers)
Strategic lines existed in 4 Zonal Railways i.e., NR, NFR, NWR & WR
Important Major Heads pertaining to Indian Railways
Minor Head: It is a 3rd level (of 6 levels) in the hierarchy of classification of Government expenditure.
Here Minor Head is 300. Other examples are 100, 200, 300 ……. 900.
Maximum 9 Minor Heads are possible in each and every Sub Major Head / erstwhile Demand.
In all erstwhile Demands (except 03) , Minor Head 900 is dedicated for Credits and Recoveries.
In Erstwhile Demand No. 03, Sub Heads 190,290,390…..990 are dedicated for Credits and Recoveries.
Final Heads: All Revenue and Capital Heads are called Final Heads. Suspense Heads are not come under Final Heads.
What is Suspense?
Suspense Heads are operated in accounts for facilitating proper accountal of various transactions, which cannot be booked to final heads immediately, for want of allocation or other reasons .
Transactions in suspense Heads are held temporarily pending clearance by payment or recovery or adjustment to the Heads of accounts.
Examples are MAR, DP, Traffic, Labour, Deposit, Cheques & Bills, R etc