PFMS is integrated with the RBI's Core Banking Solution known as: MCQ with Answer and Explanation

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PFMS is integrated with the RBI's Core Banking Solution known as:

A. UPI

B. SWIFT

C. E-Kuber

D. NEFT

Answer: Option C

Solution (By JKSSB Mock Tests)

PFMS pushes payment instructions directly to E-Kuber, the RBI's core banking system, for swift settlement of government payments.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

A social audit in India under MGNREGA is conducted by:

A. Chartered accountant

B. CAG directly

C. Gram Sabha through social audit units

D. External auditor appointed by government

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Correct Answer: Option C

Explanation:
MGNREGA mandates social audit by Gram Sabha with facilitation by social audit units.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

Under the Companies Act 2013, the 'National Company Law Appellate Tribunal' (NCLAT) hears appeals against the orders of:

A. RBI

B. CAG

C. SEBI

D. NCLT

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Correct Answer: Option D

Explanation:
The NCLAT is the appellate authority that hears appeals against the orders passed by the National Company Law Tribunal (NCLT) under the Companies Act 2013.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

The 'Independence' of an auditor is required because:

A. To maintain objectivity and impartiality in the audit opinion

B. To increase revenue

C. To reduce fees

D. To comply with company law only

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Correct Answer: Option A

Explanation:
Independence ensures unbiased opinion.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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