The 'Comptroller and Auditor General' (CAG) is appointed by: MCQ with Answer and Explanation

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The 'Comptroller and Auditor General' (CAG) is appointed by:

A. President of India

B. Finance Minister

C. Parliament

D. Prime Minister

Answer: Option A

Solution (By JKSSB Mock Tests)

CAG is appointed by the President under Article 148.

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

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Question #1

The 'Goods and Services Tax' on exports is:

A. Taxable

B. Exempt

C. Zero-rated

D. Nil-rated

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Correct Answer: Option C

Explanation:
Exports are zero-rated, meaning 0% GST with refund of input tax credits.

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

Question #2

Social Accounting in India is mostly used by:

A. Households

B. Manufacturing companies

C. Public sector enterprises

D. Small traders

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Correct Answer: Option C

Explanation:
Public sector enterprises and large corporations often prepare social accounting statements to show their contribution to social objectives.

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

Question #3

Which audit assesses whether management's policies and procedures are operating efficiently?

A. Tax Audit

B. Statutory Audit

C. Management Audit

D. Cost Audit

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Correct Answer: Option C

Explanation:
Management audit focuses on the efficiency, effectiveness, and performance of management processes, beyond just financial accuracy.

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

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