In the context of PFMS, the 'Treasury Single Account' (TSA) is maintained with: MCQ with Answer and Explanation

In the context of PFMS, the 'Treasury Single Account' (TSA) is maintained with:
A. State Bank of India
B. Comptroller and Auditor General
C. Controller General of Accounts
D. Reserve Bank of India
Answer: Option D
Solution (By JKSSB Mock Tests)
The TSA is a unified bank account of the government, and it is maintained with the Reserve Bank of India (RBI), which acts as the banker to the government.

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Practice More Accountancy and Book Keeping Questions

Question #1
The 'Earnings Per Share' (Ind AS 33) requires disclosure of:
A. Basic and diluted EPS
B. Cash EPS
C. Basic EPS only
D. Diluted EPS only

Correct Answer: Option A


Explanation:
Ind AS 33 mandates both basic and diluted EPS for entities whose shares are publicly traded.

Question #2
A company declares dividend at 10% on equity shares of ₹10 each. On 5,000 shares, dividend amount is:
A. ₹50,000
B. ₹500
C. ₹10,000
D. ₹5,000

Correct Answer: Option D


Explanation:
Dividend = 10% of (5,000 * 10) = 10% of 50,000 = ₹5,000.

Question #3
Integrated Reporting (IR) differs from traditional financial reporting because it:
A. Combines financial and non-financial data to show how value is created over time
B. Only reports cash flows
C. Is used strictly for internal management
D. Eliminates the balance sheet

Correct Answer: Option A


Explanation:
IR provides a holistic view of the organization by interconnecting financial performance with sustainability, capitals (human, natural), and strategy.