S1: In the context of PFMS, the 'Direct Benefit Transfer' (DBT) scheme mandates the use of Aadhaar for authentication. S2: DBT transfers funds directly from the government treasury to the beneficiary's bank account. Which statement(s) is/are correct? MCQ with Answer and Explanation

S1: In the context of PFMS, the 'Direct Benefit Transfer' (DBT) scheme mandates the use of Aadhaar for authentication. S2: DBT transfers funds directly from the government treasury to the beneficiary's bank account. Which statement(s) is/are correct?
A. Both S1 and S2
B. S1 only
C. Neither S1 nor S2
D. S2 only
Answer: Option A
Solution (By JKSSB Mock Tests)
Both statements are correct. DBT aims to eliminate leakages by transferring funds directly to beneficiaries' accounts via PFMS, and it heavily relies on Aadhaar seeding and authentication for identity verification.

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Practice More Accountancy and Book Keeping Questions

Question #1
The 'Suspense Account' is opened when:
A. Final accounts are prepared
B. A fraud is detected
C. Trial balance does not agree
D. An asset is sold

Correct Answer: Option C


Explanation:
It holds the difference in trial balance until errors are located.

Question #2
Under GST, the 'E-way bill' is not required for the movement of goods:
A. Both A and B
B. From the consignor's place of business to the transporter's place of business for transportation
C. Where the consignment value is less than ₹50,000
D. None of the above

Correct Answer: Option A


Explanation:
An e-way bill is not required if the consignment value is below ₹50,000, or for specific movements like goods being sent to a transporter for the purpose of transportation from the consignor's place of business.

Question #3
The rule 'Debit the receiver, Credit the giver' applies to:
A. Personal accounts
B. All accounts
C. Nominal accounts
D. Real accounts

Correct Answer: Option A


Explanation:
This rule is for personal accounts.