The 'Atal Pension Yojana' (APY) is focused on: MCQ with Answer and Explanation

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The 'Atal Pension Yojana' (APY) is focused on:

A. Only government employees

B. Corporate employees

C. High-income group

D. Unorganised sector workers, providing guaranteed pension

Answer: Option D

Solution (By JKSSB Mock Tests)

APY provides a defined pension for subscribers in the unorganised sector.

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

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Question #1

The concept of 'Appropriation Accounts' in government accounting is to:

A. Show actual expenditure against grants approved by Parliament

B. Record tax revenue

C. Show profit of government companies

D. Audit public accounts

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Correct Answer: Option A

Explanation:
Appropriation Accounts compare the actual expenditure with the amounts granted by Parliament for each head.

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Question #2

A: Zero-Based Budgeting requires justification for all expenses. R: It starts with a zero base for every new period. Choose the correct option.

A. Both A and R are true but R is NOT the correct explanation of A

B. Both A and R are true and R is the correct explanation of A

C. A is true but R is false

D. A is false but R is true

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Correct Answer: Option B

Explanation:
ZBB requires managers to justify every item of expenditure from scratch. This is because it starts with a 'zero base' for each new period, rather than using the previous year's budget as a baseline. R correctly explains A.

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Question #3

The 'Quick Ratio' excludes inventory because:

A. Inventory is never sold

B. Inventory is not an asset

C. Inventory is a fixed asset

D. Inventory may not be easily convertible into cash

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Correct Answer: Option D

Explanation:
Quick ratio considers only quick assets (liquid), inventory is less liquid, so excluded.

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