The 'Controller General of Accounts' (CGA) is under: MCQ with Answer and Explanation

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The 'Controller General of Accounts' (CGA) is under:

A. Ministry of Finance

B. RBI

C. CAG

D. NITI Aayog

Answer: Option A

Solution (By JKSSB Mock Tests)

CGA is the principal accounting advisor to the Government of India, functioning under Ministry of Finance.

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

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Question #1

The 'Substantive Analytical Procedure' involves:

A. Detailed testing of samples

B. Inquiry only

C. Evaluating financial information through analysis of plausible relationships

D. Physical verification only

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Correct Answer: Option C

Explanation:
Substantive analytical procedures use ratios, trends, and relationships to detect misstatements.

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Question #2

S1: The Treasury Single Account (TSA) is a unified bank account of the government. S2: Under TSA, all cash balances of various government departments are pooled together. Which statement(s) is/are correct?

A. S1 only

B. Neither S1 nor S2

C. Both S1 and S2

D. S2 only

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Correct Answer: Option C

Explanation:
TSA is a single consolidated bank account (usually with the RBI) where all government cash receipts are deposited and all payments are made, effectively pooling all departmental cash balances.

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Question #3

The 'XBRL' (eXtensible Business Reporting Language) is used for:

A. Standardised electronic communication of financial data

B. Inventory management

C. Tax filing only

D. Manual accounting

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Correct Answer: Option A

Explanation:
XBRL facilitates digital reporting of financial statements in a machine-readable format.

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

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