Budget

Part 3 of 3

Q1. Appropriation Accounts are prepared:-
विनियोजन लेखा _______ तैयार किया जाता है।

a : After submission of March Final Account Current
मार्च का अंतिम चालू लेखा प्रस्तुत करने के बाद
b : After submission of monthly Account current
मासिक चालू लेखा प्रस्तुत करने के बाद
c : After submission of monthly Account current at the end of every quarter
मासिक चालू लेखा प्रस्तुत करने के बाद हर तिमाही के अंत में
d : None of these
उपरोक्त में से कुछ भी नहीं

Q2. Consolidated Appropriation Accounts are signed by:-

a : GM & PFA
b : GM
c : Chairman, Railway Board
d : CRB &FC (Railways)

Q3. Column I of Appropriation Accounts reflects of:-

a : Original Grant
b : Supplementary Grant
c : Original Grant, Supplementary Grant and Residual Grant
d : Final Grant

Q4. Number of Appropriation Accounts pertaining to Grants are:-

a : 16
b : 11
c : 3
d : 1

Q5. Number of Annexures prepared as part of Appropriation Accounts are:-

a : 14
b : 10
c : 3
d : None of these

Q6. Appropriation Accounts for Capital grant are compiled plan head wise in how many segments?

a : Capital
b : Capital and Railway funds
c : Capital, Railway funds and SF
d : Capital, Railway Funds, SF and RRSK

Q7. Time limit prescribed to Pr. Director of Audit for vetting Appropriation Accounts is:-

a : 2 weeks
b : 1 week
c : 3 days
d : None of these

Q8. Reply at Unit level for Audit objections on Appropriation Accounts shall be furnished by:-

a : 2 days
b : 3 days
c : 1 week
d : 2 weeks

Q9. Time limit prescribed to Pr. Director of Audit for rebuttal on Appropriation Accounts and for furnishing reply from PFA is:-

a : 2 weeks and 1 week respectively
b : 3 calendar days and 2 calendar days respectively
c : 2 calendar days and 3 calendar days respectively
d : None of these

Q10. Which is Not part of Parliamentary control on railway finances?

a : Annual Budget
b : Scrutiny of Appropriation Accounts by Public Accounts Committee
c : Committee on Govt. Assurances
d : Debroy Committee

Q11. Which is NOT a Cut Motion?

a : Disapproval of Policy Cut
b : In Principle Cut
c : Economy Cut
d : Token Cut

Q12. After grants are voted by Parliament, a bill shall be introduced for appropriating funds from Consolidated Fund of India as per which Article of the Constitution?

a : 113
b : 112
c : 114
d : 115

Q13. Annexure R-4 sent to Railway Board along with Revenue budget indicates:-

a : Performance Units of expenditure for Sub Major heads 02-10
b : Staff Statements for all Sub Major heads
c : Traction-wise correlation and rates of fuel
d : None of these

Q14. Which of the following categories of staff in the Railways assist in Internal Audit / Expenditure Control / Prevention of Leakage of Railway Revenue?

a : Traffic Inspectors, Welfare Inspectors, Health Inspectors
b : TIAs, ISAs and SSO Accounts Inspection
c : Enquiry Clerk, Inspector of Works, P. Way Inspector
d : None of the above

Q15. The 5 C’s of the Internal Audit process are:-

a : Check, Control, Create, Collaborate, Communicate
b : Control, Cascade, Confiscate, Challenge, Coverage
c : Criteria, Condition, Cause, Corrective action, Consequence
d : Command, Control, Check, Consider, Communicate

Q16. What are the 5 Watch Words for Public Expenditure?

a : Transparency, Fairness, Value for Money, Quality, Time
b : Checks and Balances, Exchequer Control, Budgetary Control, CAG Audit,Internal Audit
c : Publicity, Public Relations, Media Coverage, Budgetary Review, Internal Audit
d : None of the above

Q17. Which is NOT a method for Expenditure Control?

a : Budgetary Control and Financial Reviews
b : Internal Audit and CAG Audit
c : Review of Unsanctioned and Objectionable items of Expenditure
d : Material Modification and Price Variation Clause

Q18. Coal as a commodity contributes towards total freight revenue earned by the Railways:-

a : Between 45% to 49%
b : Between 55% to 60%
c : Between 35% to 38%
d : Between 40% to 42%

Q19. In Indian Railways, as per the NTDPC report the average freight charges per NTKM are:-

a : One of the lowest in the world
b : One of the highest in the world
c : Roughly equal to that of China
d : Roughly equal to that of USA

Q20. The Kisan Rail announced in the Rail Budget 2020-21 would be used to transport:-

a : Migrant workers
b : Marginalised farmers, free of cost
c : Fertilizers, Seeds and Pesticides
d : Perishables – milk, meat, vegetables for the national cold chain

Q21. The following are the major Station Development and improvement works carried out by IR in 2018 and 2019:

a : Tree plantation, Private siding development, Car parks
b : Multi-functional complexes (MFCs), Rain water Harvesting, Solar lanterns,Wind farms
c : Façade improvement, Platform surfacing, Station illuminations, Lifts and escalators
d : PPP, External borrowings, FDI

Q22. Descending order of Sundry Earnings of Railways as per the B.E. of 2020-21 are as follows (Choose the correct option):

a : Earnings from RLDA / Land Monetization, Car Scooter Parking Land, Interest charges of Saloon, level crossings etc.
b : Earnings from RLDA / Land Monetization, Land Lease charges, Receipt of Catering charges
c : Refund of earnings, Earnings of IRCTC, Car Scooter Parking
d : None of the above

Q23. After the merger of the Railway Budget, what has been the major implication:-

a : Railways no longer has to prepare its Annual Statement of Receipts & Expenditure
b : The Finance Ministry prepares the Railway Budget
c : Railways no longer have to pay dividend to the Government
d : None of the above

Q24. The Budgeted Operating Ratio for 2020-21 is:-

a : 98%
b : 99%
c : 96%
d : 94%

Q25. Indian Railways is making a gradual move towards Accrual Based Accounting System as a part of Accounting Reforms. In this system:-

a : Revenues are reported in the year when it is earned, irrespective of when it is actually received
b : Expenditure is allowed to accrue for some years before it is accounted for
c : It is a modified Cash Based Accounting System
d : None of the above

Q26. After Budget Merger, now all the Railway Demands are under Demand No. ____in General Budget:-

a : 80
b : 81
c : 82
d : 83

Q27. The Pension Fund gets the money from:-

a : Revenue earned by Railways
b : Capital
c : Budgetary Support
d : Extra Budgetary Support

Q28. Traffic Costing Officers in Zonal Railways report to:-

a : PCOM
b : PCM
c : PFA
d : PCEE

Q29. Petty Expenses up to Rs. ____ in each case can be made through Cash Imprest.

a : Rs.10,000
b : Rs.15,000
c : Rs.5,000
d : Rs.2,000

Q30. In Revenue Works, Estimate is prepared if proposal cost is more than:-

a : Rs.50,000
b : Rs.5,00,000
c : Rs.2,00,000
d : Rs.10,00,000

Q31. Earnest Money in NIT for a work costing Rs.1 crore is:-

a : Rs.2 lakhs
b : Rs.5 lakhs
c : Rs.1 lakh
d : Rs.10 lakhs

Q32. The purpose of Works Register as per the Engineering Code is to:-

a : Numerically list all works under Revenue and Capital in a Division
b : To list all works sanctioned under D.No.16 with reference to sanctioned cost,budget allotment and details of expenditure incurred
c : It is a register maintained in the office of the Chief Engineer (Civil)
d : None of the above

Q33. Completion Report has to be prepared for all works / projects completed in a Railway Unit, as per the Engineering Code. What major support documents / data assist in preparing the Completion Report?

a : Final Bill Summary, Completion Estimate and Satisfactory Work Completion report by the Executive
b : Works Contractor’s self-assessed expenditure booked to that work duly reconciled with the Executive’s expenditure account
c : Detailed Estimate, Abstract Estimate and Book of Sanction
d : Material at Site Report, Material Modification Report and Variation Statements for the work

Q34. Productivity Test as a method of Post Project appraisal is used for which category of Works in the Railways?

a : Works Charged to Development Fund
b : Works which will lead to a financial return on capital invested in terms of traffic revenue earned after opening of a new line as compared to estimated revenue /earnings
c : Works sanctioned in a Production Unit for all high value capital machinery plant and the corresponding increase in the physical output in the Production Unit
d : Works sanctioned for station development works to measure the increase in number of originating passengers after the station development work is over.

Q35. The balance sheet of any organisation represents:-

a : Asset Statement
b : Statement of Financial Position
c : Statement of Profit and Loss Account
d : Cash Book Balance

Q36. GST is a consumption of goods and service tax based on:-
जीएसटी एक माल और सेवा कर किस पर आधारित है:

a : Development
विकास
b : Dividend
लाभांश
c : Duration
अवधि
d : Destination
गंतव्य

Q37. In capital budgeting, a technique which is based upon discounted cash flow is classified as:-

a : Net future value method
b : Net present value method
c : Net capital budgeting method
d : Net dividend and discount method

Q38. ______________ refers to meeting the needs of the present people without compromising the ability of future generations to meet their own needs.

a : Corporate Social Responsibility
b : Sustainability
c : Convergence
d : Green Economics

Q39. ______________ is defined as the length of time required to cover the initial cash outlay.

a : Payback period
b : Inventory Conversion period
c : Discounted payback period
d : Budget period

Q40. Out of the following, which is NOT a principle / method which assists capital budgeting objectives?

a : The method should provide for an objective and clear way of separating good projects from bad projects
b : The method should help in ranking of projects according to their true profitability
c : Payback period in terms of cash flows should be immediate
d : The method should help in choosing projects which maximise shareholder wealth

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