Public Financial Management System (PFMS) helps in: MCQ with Answer and Explanation

Question

Share Report Error

Public Financial Management System (PFMS) helps in:

A. Ensuring last-mile connectivity in fund transfer

B. All of the above

C. Preventing leakages

D. Monitoring government subsidies

Answer: Option B

Solution (By JKSSB Mock Tests)

PFMS aims to track funds, monitor subsidies, ensure DBT, and reduce leakages in public expenditure.

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 term 'Working Capital' refers to:

A. Current Assets - Current Liabilities

B. Long-term Loans

C. Total Assets - Total Liabilities

D. Fixed Assets

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Working capital, or net working capital, is the difference between current assets and current liabilities, representing the short-term liquidity of the firm.

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

Question #2

'Internal Control' is the responsibility of:

A. Auditor

B. Shareholders

C. Management

D. Government

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Management is responsible for establishing and maintaining internal controls.

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

Question #3

An amended Cash Book is prepared to correct:

A. Errors made by the bank

B. Timing differences like unpresented cheques

C. Only bank overdrafts

D. Errors and omissions made in the Cash Book

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
An amended cash book is prepared to adjust omissions (like bank charges) and errors in the cash book before preparing the final BRS.

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

Explore All Accountancy and Book Keeping MCQs