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

Question
PFMS is integrated with the RBI's Core Banking Solution known as:
A. NEFT
B. E-Kuber
C. SWIFT
D. UPI
Answer: Option B
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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Practice More Accountancy and Book Keeping Questions

Question #1
The 'Search and Seizure' under Section 132 of Income Tax Act is commonly known as:
A. Audit
B. Raid
C. Survey
D. Assessment
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Correct Answer: Option B

Explanation:
Search and seizure is an extreme measure to unearth undisclosed income.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
In the absence of a partnership deed, interest on partners' capital is allowed at:
A. 6% p.a.
B. 12% p.a.
C. 5% p.a.
D. No interest
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Correct Answer: Option D

Explanation:
According to the Indian Partnership Act, no interest on capital is allowed unless there is an agreement.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Component Auditor' in a group audit is:
A. An auditor who performs audit work on a component for the group auditor
B. The auditor who audits the parent
C. Internal auditor
D. Tax auditor
Discuss
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Correct Answer: Option A

Explanation:
Group auditor may use the work of component auditors.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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