In the context of PFMS, what is the primary purpose of the 'Online Payroll and Attendance System' (e-Payroll) module? MCQ with Answer and Explanation

In the context of PFMS, what is the primary purpose of the 'Online Payroll and Attendance System' (e-Payroll) module?
A. To collect tax deductions from private sector employees
B. To process pensions for retired employees
C. To generate and process salary bills for government employees digitally
D. To manage the procurement of office supplies
Answer: Option C
Solution (By JKSSB Mock Tests)
The e-Payroll module in PFMS is designed to digitize the generation, processing, and payment of salary bills for government employees, ensuring transparency and reducing paperwork.

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Practice More Accountancy and Book Keeping Questions

Question #1
In budgetary control, a 'Flexible Budget' is:
A. Only prepared for variable costs
B. A master budget
C. A budget that is fixed for the period
D. A budget that changes with the level of activity

Correct Answer: Option D


Explanation:
Flexible budget adjusts for different levels of output.

Question #2
In a manufacturing account, 'Prime Cost' includes:
A. Selling overheads
B. Direct materials, direct labour, direct expenses
C. Administration overheads
D. All factory overheads

Correct Answer: Option B


Explanation:
Prime cost is the sum of all direct costs.

Question #3
The 'Sale and Leaseback' transaction: If the transfer qualifies as a sale under Ind AS 115, the seller-lessee:
A. Derecognises the asset and recognises a right-of-use asset at the proportion of the previous carrying amount related to the right retained
B. No entry
C. Keeps the asset
D. Treats as operating lease

Correct Answer: Option A


Explanation:
Under Ind AS 116, the seller-lessee only recognises a right-of-use asset for the part retained.