Government Accounting & Budgeting

JKSSB Finance Accounts Assistant · Accountancy & Book-Keeping · 21 practice questions with answers and explanations: 6 Easy, 10 Medium, 5 Hard.

Sample questions

Sample Easy question 1

No money can be withdrawn from the Consolidated Fund of India except:

  1. With the permission of the Reserve Bank
  2. In accordance with law and for purposes specified in the Constitution
  3. With the personal approval of the President alone
  4. Through a private bank loan
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Answer: B. Article 266 mandates that withdrawals from the Consolidated Fund require authorization by law (an Appropriation Act) passed by Parliament.

Sample Medium question 2

What is the 'Consolidated Fund of India'?

  1. The fund into which all government revenues, loans, and receipts are credited
  2. A fund used only for defence spending
  3. A private investment fund
  4. A fund maintained by the RBI for its own use
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Answer: A. The Consolidated Fund of India holds all revenues, loans raised, and receipts from repayment of loans by the government.

Sample Hard question 3

Under India's government accounting, expenditure is broadly classified into which two categories?

  1. Revenue expenditure and Capital expenditure
  2. Direct expenditure and Indirect expenditure
  3. Fixed expenditure and Variable expenditure
  4. Planned and Unplanned expenditure only
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Answer: A. Government expenditure is classified as Revenue expenditure (routine operating costs) and Capital expenditure (asset-creating spending).

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