In the context of PFMS, what is the role of the 'Controller General of Accounts' (CGA)? MCQ with Answer and Explanation

Question
In the context of PFMS, what is the role of the 'Controller General of Accounts' (CGA)?
A. To collect taxes
B. To audit state governments
C. To regulate banks
D. To maintain the accounts of the Union Government
Answer: Option D
Solution (By JKSSB Mock Tests)
The CGA is the principal accounts adviser to the Government of India and is responsible for maintaining the accounts of the Union Government.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
The 'RCM' (Reverse Charge Mechanism) under GST applies to:
A. Only goods
B. Only services
C. Specified categories of supplies and registered persons
D. All supplies
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
RCM is applicable to notified categories of goods/services and where supplier is unregistered to registered recipient.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which of the following is an example of a 'Revenue Reserve'?
A. Capital redemption reserve
B. Revaluation reserve
C. Securities premium
D. General reserve
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
General reserve is created from revenue profits, hence a revenue reserve. Securities premium and capital redemption reserve are capital reserves. Revaluation reserve arises from revaluation of assets, also capital.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
'AS 9' pertains to:
A. Revenue Recognition
B. Depreciation
C. Inventories
D. Taxes on income
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
AS 9 Revenue Recognition provides guidance on when to recognize revenue.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Statistics 1318 Accountancy and Book Keeping 1861
Explore Subjects
Reasoning 1111 Accountancy and Statistics 3179 Maths 5575 Static General Knowledge 6362 Science 4430
Practice Mix
Which type of soil is generally found in regions receiving rainfall greater than 200 cm annually?
That which cannot be touched
Which of the following states receives the highest rainfall during the Northeast Monsoon?
S1: Direct taxes are levied on income and wealth. S2: Direct taxes can be shifted to others. Which statement(s) is/are correct?
She identifies ___ the character.