The 'Charged Expenditure' on the Consolidated Fund includes: MCQ with Answer and Explanation

Question

Share Report Error

The 'Charged Expenditure' on the Consolidated Fund includes:

A. Defense expenditure

B. Road construction

C. Education expenditure

D. Salary of President and CAG

Answer: Option D

Solution (By JKSSB Mock Tests)

Charged expenditure includes emoluments of President, Judges, CAG, etc., which are non-votable.

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

An error where the effect of one error is neutralized by the effect of another error is called:

A. Error of omission

B. Error of commission

C. Compensating error

D. Error of principle

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Compensating errors mutually cancel each other out, ensuring the Trial Balance continues to tally despite the mistakes.

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

Question #2

If the purchase of a printer for ₹12,000 is recorded in the purchases book, the error is:

A. Error of omission

B. Compensating error

C. Error of commission

D. Error of principle

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Printer is an asset, should be capitalised. Recording in purchases book treats it as expense, violating accounting principles.

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

Question #3

In a partnership, interest on capital is allowed only when:

A. It is provided in the partnership deed

B. The firm has cash

C. The firm makes profit

D. It is mandatory under law

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Interest on capital is payable only if the partnership deed so provides, and only out of profits.

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

Explore All Accountancy and Book Keeping MCQs