A: The Consolidated Fund of India is mentioned in Article 266 of the Constitution. R: It includes all revenues received by the Government of India. Choose the correct option. MCQ with Answer and Explanation
A: The Consolidated Fund of India is mentioned in Article 266 of the Constitution. R: It includes all revenues received by the Government of India. Choose the correct option.
A. A is true but R is false
B. Both A and R are true and R is the correct explanation of A
C. Both A and R are true but R is NOT the correct explanation of A
D. A is false but R is true
Answer: Option C
Solution (By JKSSB Mock Tests)
Article 266 of the Constitution establishes the Consolidated Fund of India. It includes all revenues, loans, and repayments. Both are true, but R describes the contents, not the constitutional basis (which is Article 266).
If opening capital is Rs 1,00,000, closing capital is Rs 1,50,000, and drawings are Rs 20,000, what is the profit for the year assuming no additional capital?
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