Store

Part 2 of 3

Q1. Certain Non-Stock requisitions need not vetted.

a : If they are part of a Detailed Estimate
b : If they are below 10 Lakhs
c : If they are non-PAC items.
d : None of the above

Q2. Single tender can be called in case of PAC where it is certified that -

a : Similar article is not manufactured by any other firm
b : Such an article not manufactured in India
c : The firm has patented that article
d : The firm is the OEM

Q3. Purchase of services on Gem can be made ley-

a : Any department
b : Only Store department
c : Both
d : None

Q4. Limited tenders in Stores may be called from-

a : Registered Approved Suppliers for that item only
b : Any vendors
c : From a Single firm
d : None of the above

Q5. If only one offer is received in an open tender

a : Tender should be discharged
b : Tender should be accepted
c : Item should be retendered
d : A&C

Q6. Sales Suspense is maintain because-

a : To watch over delivery of auctioned material against amount received
b : To ensure correct recovery of due amounts
c : To ensure excess delivery is not made
d : None of the above

Q7. Stock adjustment account deals with-

a : there is value difference due to market fluctuation
b : Quantity difference due to stock verification
c : a & b
d : None of the above

Q8. SIT (DT) is a suspense which monitors-

a : Material transferred to other Zone
b : Material transferred from depot to depot in the same Zone
c : Material transferred to user depot
d : None of the above

Q9. The delivery period in supply contract shall be reckoned-

a : From the date of issue of purchase order
b : From the date of issue of advance PO/Letter of advance
c : Both A & B
d : By the discretion of competent authority of purchaser department

Q10. Recovery of liquidated damage shall be levied-

a : at the rate of 1% of the price of the store per week and max 5%
b : at the rate of 2% of the price of the store per week and Max 10%
c : At the rate of 1/2% of the price of the store per week and max 10%
d : At the rate of 2% of the price of the store per month and max 5%

Q11. Spot purchase can be made-

a : With concurrence of PFA and sanction of GM/AGM
b : With concurrence of PFA and sanction of PHOD
c : With approval of Railway Board
d : With concurrence of associate finance and sanction of DRM

Q12. 30% option clause should be incorporated in supply contract to-

a : Fulfil the additional requirement
b : To reduce outdated stock
c : Both A & B
d : None of the above

Q13. What % of Net Procured Quantity in regular supplied tenders can be ordered to developmental vendors?

a : upto 10%
b : upto 20%
c : upto 5%
d : upto 25%

Q14. From which kind of vendor can LD not be taken in case of late supply?

a : Approved vendor
b : Developmental vendor
c : Where Tender conditions contains not imposing of LD
d : Both B & C

Q15. In supply tender if price differential between L-1 & L-2 is more than 3% and upto 5% then quantity distribution ratio between L-1 & L-2 will be -

a : 60:40
b : 50:50
c : 65:35
d : 70:30

Q16. SD from successful tender should be received in purchase office within …… days-

a : 30
b : 21
c : 15
d : 10

Q17. Out turn statement Part-II shows out lay

a : On works in progress
b : On completed work order awaiting adjustment
c : Both A & B
d : Adjustable during the month

Q18. Provident fund contributions to shop staff to be classified as-

a : Shop on cost
b : General on cost
c : Proforma on cost
d : Administrative on cost

Q19. Depreciation of workshop plant and building is classified as-

a : Shop on cost
b : General on cost
c : Proforma on cost
d : None of above

Q20. Workshops on Railways are

a : Production workshop
b : Repair and maintenance workshop
c : Both of the above
d : None of above

Q21. WGR is maintained in-

a : Railway division
b : Railway workshop account
c : Construction account
d : None of the above

Q22. The attendance is recorded in the gate attendance card at-

a : Gate
b : Shop
c : Time office
d : The time book

Q23. Each workshop employee records his attendance daily through GA Card-

a : Once
b : Twice
c : Thrice
d : Four times

Q24. Time/Tally sheets are evaluated on the basis of-

a : Rate of Pay
b : Actual Wages drawn
c : Average labour rate
d : None of the above

Q25. The difference between time/tally sheet and labour Pay sheet on average rate is allocated to-

a : General on cost
b : Shop on cost
c : Proforma on cost
d : None of above

Q26. Proforma on cost charges are levied on works executed for-

a : Other government department
b : Store Department
c : POH of other Railway
d : All of the above

Q27. Work orders which conform to Revenue Accounting Classification and remain unchanged from year to year are called?

a : On cost work order
b : Manufacturing work order
c : A Revenue Standing work order
d : None of the above

Q28. Cost of defect and spoilt work in experimental work is allocated to-

a : General on cost
b : Proforma on cost
c : Shop on cost
d : None of above

Q29. For paying enhanced tax rates the clause which should be applicable is: -

a : Price variation clause
b : Statutory Variation clause
c : Option clause
d : Splitting clause.

Q30. The rate for deduction of liquidated damages is :-

a : 0.5 % per week of delay
b : 01 % per month of delay
c : 02 % per week of delay
d : 0.5 % per month of delay

Q31. Purchase of stock items are initially booked to-

a : Stores suspense
b : Workshop Manufacturing Suspense
c : PU-27 Material Stock
d : PU-28 Direct Purchase

Q32. The post of Financial Commissioner Railways will now be called as:-

a : CEO (Finance)
b : Member (Finance)
c : Member (Accounts)
d : Member (Business Development)

Q33. The proposal sent by Zonal Railway to Railway Board for specific need of Rolling Stock is called:-

a : Rolling Stock programme
b : Itemized Rolling Stock programme.
c : Capital Budget.
d : None of the above.

Q34. When advance payment is made to a supplier the purchase is :-

a : Credited
b : Debited
c : No Entry made
d : None of the above.

Q35. When PSC sleepers is supplied by authorised firm to private party they pay-

a : Inspection Charges to Railways.
b : Liquidated damages to railway.
c : Compensation to railway.
d : All of the above.

Q36. Account Current which complies with Government Account is called :-

a : Finance account
b : Commercial account
c : Capital account
d : Revenue Account

Q37. EMD for stores contracts for tender Value between 25 lakh to 50 crore :-

a : 2% of Estimated value max 20 lakhs.
b : 1% of Estimated value max 20 lakhs.
c : 2% of Estimated value max 10 lakhs.
d : 1% of Estimated value max 10 lakhs.

Q38. Which of the following statements are correct?
The stock adjustment account is operated to for recording differences arising out of :-
   i)Variation in stock noticed on account of Stock Verification or Departmental Stock Verification.
    ii)Changes in Price of stock purchased from market or manufactured at workshop.
   iii)Difference in book value and actual value realised on Scrap sale < br />    iv)Rounding off

a : only I and ii are correct
b : only I, ii and iii are correct
c : all are correct
d : only I and iii are correct

Q39. The SMS is prepared for:

a : Stock item
b : Non stock item
c : Both a & b.
d : None of the above

Q40. The document required for 100% payment from consignee for stock item is-

a : Receipt note.
b : DDR.
c : Consignee receipt and acceptance certificate.
d : All of the above

Q41. PH 22 of railway is used for:-

a : Rolling stock
b : Leased asset payment Capital component
c : Leased asset payment of interest component
d : IRFC charges

Q42. If terms and condition in PO to be changed then:-

a : Fresh PO is issued.
b : Modification advice is issued.
c : Cancellation advise is issued
d : above c) then a) is issued.

Q43. Which of the following analysis is a part of Inventory Control :-

a : F.O.R
b : A.B.C
c : T.A.N
d : all of the above

Q44. The final booking of stock items is done under revenue head:-

a : PU 27
b : PU 28
c : PU 32
d : PU 99

Q45. POH cost of material for home railway rolling stock will be booked under :-

a : PU 34
b : PU 35
c : PU 63
d : PU 64

Q46. PH 31 is used for booking expenditure of :-

a : Bridge works
b : S&T works
c : Track Renewal
d : Level crossing

Q47. Railway material received from supplier are inspected on specified terms and conditions by:-

a : RDSO
b : RITES
c : Consignee
d : all of the above

Q48. Power to close items under part 1 of the railway board inspection report of zonal railways lies with:-

a : GM
b : PFA
c : FA & CAO
d : None of the above

Q49. How many budgetary reviews are conducted in a financial year:-

a : August Review, revised estimate, Final modifications -3
b : August Review, Revised estimates, budget estimates, Final Modifications -4
c : Revised estimates Budget Estimates, Final Modifications -2
d : Revised Estimates, Budget Estimates, Final modifications -3

Q50. Production shops in a workshop are:-

a : Process shop
b : Job shop
c : Both process and job shop
d : None of the above

All question carefully copy paste from IRIFM - A Thousand and one question but if any mistake found please write on comment box. Also any suggestions write down in comment section. 

IRIFM- Thousand and one question