The 'Comptroller and Auditor General' (CAG) is not responsible for audit of:
A. Government departments
B. Autonomous bodies substantially financed by government
C. Public sector banks (statutory audit by CA firms)
D. Government companies
Answer: Option C
Solution (By JKSSB Mock Tests)
Statutory audit of public sector banks is conducted by chartered accountant firms appointed by RBI/Central Government; CAG conducts supplementary audit.
Explanation:
Real accounts represent assets and properties. They are permanent accounts and their balances are carried forward to the next year, never closed.
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