Books

Part 3 of 3

Q1. To denote an activity, Divisions of each Part in Government accounting are grouped into

a : Sections and further divided into Major Heads
b : Major heads are divided into Sub-Major heads
c : Sub-Major heads into Minor heads, Sub heads and Detailed heads
d : All of these

Q2. Revenue and Capital transactions of the Railways are bifurcated into

a : Commercial
b : Strategic
c : Government
d : Both A&B

Q3. Any overpayment made under Revenue in previous years (except in case of ongoing works) upon recovery is allocated to

a : Revenue head as minus debit
b : Capital head 1198
c : Abstract Z
d : None of these

Q4. Primary responsibility for allocation of receipts and payments rests with

a : Accounts dept
b : Executive depts
c : both
d : None

Q5. In works, any change in the classification of expenditure will be effective from

a : the date of issue of letter
b : Beginning of the next financial year, duly obtaining budget provision for entire expenditure
c : Change should only be for the expenditure incurred after issue of letter
d : None of these

Q6. Find the odd one: Link heads maintained in the commercial accounts of Railway and Government Accounts

a : Demands Payable
b : Labour
c : Stores in Transit
d : Traffic Account

Q7. Government accounts are maintained on ___basis while Railway accounts are maintained on ____basis:-

a : Cash; Accrual
b : Accrual; Cash
c : Cash; Cash
d : Accrual; Accrual

Q8. The suspense head Traffic Accounts always has balance and represents ____earnings

a : Credit; gross
b : Credit; unrealised
c : Debit; unrealised
d : None of these

Q9. Labour and Demands Payable suspense heads have a ___balance on expenditure side and represent liability at the end of the month

a : Debit; undischarged
b : Credit; undischarged
c : Credit; Total liability
d : Debit; Total assets

Q10. Payment made to Departmental Officer for local purchase, pending rendering of accounts is allocated to which suspense head?

a : Deposit Miscellaneous
b : Cheques & Bills
c : Remittance into Bank
d : Miscellaneous Advance (Rev)

Q11. Miscellaneous advances (Rev) will have -----balance; while Deposit Miscellaneous will have -----balance

a : Credit; Credit
b : Debit; Debit
c : Debit; Credit
d : Credit; Debit

Q12. Debits to Deposit Miscellaneous will represent

a : Refunds of previous credits
b : written off amounts
c : Both of these
d : None of these

Q13. Closed Provident Fund accounts are credited to

a : Abstract Z
b : Deposit Miscellaneous (PF)
c : Deposit-Unpaid Wages
d : None of these

Q14. Balance under 'Cash' in L-Suspense and Miscellaneous represents:-

a : Cash held by Cashier for depositing in the bank
b : Cash imprests held by Rly officers
c : Both of these
d : None of these

Q15. All capital transactions, except suspense heads, are closed to:-

a : Capital Account
b : Capital Outlay
c : Balance
d : None of these

Q16. All revenue transactions, except suspense heads are closed to:-

a : Net Revenue
b : Capital Outlay
c : Balance
d : None of these

Q17. All Suspense heads, with exception to 'Transfer Railways', are closed to:-

a : Net Revenue
b : Capital Outlay
c : Balance
d : None of these

Q18. The Suspense Head 'Transfer Railways' is closed to this head on Zonal Railways:-

a : Net Revenue
b : Capital Outlay
c : Balance
d : Miscellaneous Government Account

Q19. Transactions under 'Deposits with Reserve Bank (Rlys)' is closed to

a : Net Revenue
b : Miscellaneous Government Account
c : Balance
d : Capital Outlay

Q20. Credits to DRF are :-

a : Appropriation from Revenue
b : Replacement / Renewal of assets
c : Interest accrued on fund balances and loans
d : A&C

Q21. Credits to DF are:-

a : Appropriation from Revenue surplus
b : Interest accrued on fund balances and loans
c : A&B
d : A only

Q22. Credits to Pension fund are:-

a : Appropriation from Revenue/Capital
b : Interest accrued on fund balances
c : Transferred amounts from contributory PF
d : All of these

Q23. Demands Payable is budgeted for:-

a : Both debits and credits
b : Only debits
c : Only credits
d : Net (credits) only

Q24. With respect to Demands Recoverable find the odd one:-

a : Rent received on buildings
b : Electricity and water charges received from service provided to outsiders
c : Interest and Maintenance &M charges from sidings
d : None of these

Q25. Choose the correct statement(s)
  a) Traffic account is operated for watching the realization of earnings originated at stations
  b) Demands recoverable is operated for watching the realization of bills raised on Divisions
  c) MAR is operated for keeping the amounts remitted by the outsiders
  d) Difference between book balance and physical balance of stores is reflected

a : All are correct
b : a, b, c are correct
c : a, b, d are correct
d : a, c, d are correct

Q26. Detailed account of an accounts circle for both receipts and payments under prescribed Government accounts is called:-

a : Capital Account
b : Revenue Account
c : Block Account
d : Accounts Current

Q27. General books comprises of:-

a : Register of earnings
b : Register of works
c : Deposit Miscellaneous register
d : None of these

Q28. General books: Find odd one

a : Revenue Allocation Register
b : Daily & Monthly abstract of cash transactions
c : Journal
d : Ledger

Q29. Subsidiary books: Find odd one

a : Revenue Allocation Register
b : Works register
c : Journal
d : Ledger

Q30. Journal: Find odd one:-
जर्नल: एक अलग खोजे:

a : Traffic check sheet for station remittances
स्टेशन प्रेषण के लिए यातायात जांच पत्र
b : Rectification of mistakes/misclassifications
गलतियों का सुधार/ गलत वर्गीकरण
c : Remittance transactions
प्रेषण लेनदेन
d : Transfer transactions
स्थानांतरण लेनदेन

Q31. Ledger: Choose the correct statement(s):-

a : To end of a month progressive balances of receipts and payments are recorded
b : Postings are made from Capital and Revenue Journals
c : It is maintained in 3 Parts
d : No cash transactions are recorded

Q32. Which of the following statements is not correct?

a : General books suit the principles of Govt accounting
b : Schedules accompanying Accounts Current suit to commercial accounting
c : Cash book is an example for Subsidiary cook
d : None of these

Q33. Purchase suspense, other than in case of advance payment, will have

a : Credit first
b : Debit first
c : Auction sales
d : Depot transfers

Q34. Which of the following statements is true?

a : Monthly Cash abstract totals and Journal totals are taken separately to ledger
b : Totals in monthly abstract of Cash book are added up to Journal, before posting monthly transactions in the ledger
c : Only totals in monthly abstract of Cash book are taken to ledger
d : None of these

Q35. The figures shown in the Monthly Accounts Current are:-

a : Gross
b : Credits
c : Net
d : All of these

Q36. Earnings-Accounts Current Vs Schedules: Which of the following statement(s) is /are true?

a : Accounts Current will show only realized earnings net
b : Schedules will show accrued earnings duly classified and also Traffic suspense
c : Both are incorrect
d : Both A&B are correct

Q37. Working Expenses-Revenue Accounts Current Vs Schedules: Which of the following statement(s) is /are true?

a : Accounts Current will show all revenue expenditure net
b : Schedules will show revenue duly classified abstract wise and also X-suspense
c : Both A&B are correct
d : Both are incorrect

Q38. Accounts Current: Which of the following statement(s) is / are true?

a : Accounts Current figures are incorporated in Ways & Means position of Union Govt.
b : Schedules are useful for MIS
c : Both are incorrect
d : Both A&B are correct

Q39. Report on Debt and Remittance head balances submitted to Railway Board as part of Finance accounts is called

a : Debt head report
b : Half-yearly review of suspense balances
c : Half-yearly arrear report
d : Outturn Statement

Q40. Which of the following is not shown in the Debt head report?

a : F Loans & Advances
b : L Retirement benefits
c : I Small Savings
d : J Reserve Funds

Q41. Which of the following is true?: Balance under Transfer Railways/ Transfer Division, if any

a : Should be brought to 'nil', by end of the year
b : Vitiates the Budgetary and Expenditure control, being unadjusted transactions
c : A&B are correct
d : None of these

Q42. Which of the following is not settled through RBI in case of transactions between Railways and other Government Departments?

a : Defense and Postal
b : DGS&D supplies
c : Cash Payments
d : Income tax recoveries made from staff and outsiders

Q43. Which of the following statements is/are true: By end of Financial Year, balance under Reserve Bank Suspense

a : Should be made 'nil'
b : Debit balance is transferred to MA-R
c : Credit balance is transferred to Deposit Miscellaneous
d : All of these are correct

Q44. Transactions pertaining to Defense & Postal originated in Railways are adjusted by operating a suspense head called

a : PAO/AG suspense
b : M-Remittances
c : Reserve Bank Deposit
d : Cheques & Bills

Q45. Accounting heads operated temporarily for specific purposes before booking to final heads are called

a : Suspense heads or Transient heads
b : Civil heads
c : Commercial lines
d : Debt heads

Q46. Find the odd one: Inventory suspense heads:-

a : Stores in stock
b : WMS
c : MA-R
d : MA-C

Q47. Find the odd one: Link suspense heads

a : PAO suspense
b : Traffic Account
c : Labour
d : Demands Payable

Q48. Find the odd one:-

a : Hardcore/Inefficient
b : Irregular
c : Beyond permissible period
d : ABC Analysis

Q49. Find the odd one:-

a : MA-R
b : Traffic Account
c : Deposit Miscellaneous
d : WMS

Q50. All cash receipts and payments are posted in

a : Cashier's Cash Book of Cash Office
b : General Cash Book of Books section
c : only B is correct
d : A & B are correct

Q51. Traffic receipts: keep in the order of occurrence-
  a) Posting on the Receipts side of Cashier's cash book
  b) Posting in Traffic Check sheet
  c) Preparation of CR/TR note and MCRs
  d) Posting in the General Cash Book & AO sign as a token of reconciliation daily on Cashier's cash Book

a : a, b, c, d
b : c, a, b, d
c : a, d, c, b
d : None of these

Q52. Payments: Find the odd one
  a)CO7 preparation and CO7-wise posting in General Cash Book
  b)Posting of bills received on payment side of Cashier's Cash book
  c) Preparation of Cheques
  d) D.AO's daily verification of Cashier's cash book

a : c, b, d, a
b : a, b, c, d
c : d, c, b, a
d : a, c, b, d

Q53. Cash in Transit is
कैश इन ट्रांजिट क्या है?

a : The cash taken by station in the balance sheet is accounted by cash office in the following month
बैलेंस शीट में स्टेशन द्वारा ली गई नकदी का हिसाब अगले महीने में नकद कार्यालय दवारा दिया जाता है
b : The cash accounted by station in a month
एक महीने में स्टेशन के हिसाब से नकद
c : The cash accounted by cash office in a month
नकद कार्यालय द्वारा एक महीने में नकद भुगतान
d : None of these
इनमें से कोई नहीं

Q54. The check exercised by railway accounts office on financial transactions is called:-
वित्तीय लेनदेन पर रेलवे लेखा कार्यालय द्वारा प्रयोग किए जाने वाले जांच को कहा जाता है

a : Post check
पोस्ट जाँच
b : Precheck
पुर्व जाँच
c : Internal Check
आंतरिक जाँच
d : Internal Audit
आंतरिक लेखा परीक्षा

Q55. Independent appraisal function of review of selected activities by Accounts team is called:-

a : Post check
b : Precheck
c : Internal Check
d : Internal Audit

Q56. Name the supreme statutory Audit Organisation in India

a : C&AG
b : CGA
c : CVC
d : None of these

Q57. What is not within the 3-fold purpose of Railway Audit?

a : Accountancy audit
b : Internal audit
c : Appropriation audit
d : Administrative audit

Q58. Time limit to furnish reply by Zonal railway for Draft Paras is:-

a : 1 month
b : 8 weeks
c : 6 weeks
d : 4 weeks

Q59. Time limit allowed to Zonal railway for furnishing reply to Provisional Para is :-

a : 2 weeks
b : 8 weeks
c : 6 weeks
d : 4 weeks

Q60. Audit objections raised on Accounts as a result of voucher check are called:-

a : Audit Inspection Report
b : Special letter
c : Audit note
d : None of these

Q61. Set the order of occurrence:-
  a) Provisional Para
  b) Draft Para
  c) ATN
  d) Audit Para

a : b, d, a, c
b : d, c, b, a
c : a, b, c, d
d : b, a, d, c

Q62. What is not part of Social Service Obligations borne by Railways?
रेलवे द्वारा वहन की जाने वाली सामाजिक सेवा बाध्यताओं का हिस्सा क्या नहीं है?

a : Pension paid to railway retirees
रेलवे सेवानिवृत्त लोगों को पेंशन का भुगतान
b : Passenger and other coaching services rendered below the cost of operation
यात्री और अन्य कोचिंग सेवाएं, संचालन की लागत से कम पर आय
c : Uneconomic branch lines
अलाभकारीशाखा लाइनें
d : Carriage of essential commodities at below the cost of operation
संचालन की लागत के नीचे आवश्यक वस्तुओं की ढुलाई

Q63. Choose incorrect statement:-

a : Waival is giving up a claim before entering into General books of railways
b : Write off is removing irrecoverable transactions from financial books of railways
c : Commercial accounts are kept on cash basis
d : Railways no longer pay dividend to general Revenues as Capital at charge stands wiped out due to merger of Railway Budget with General Budget

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