The Indian Financial Management System (IFMS) integrates: MCQ with Answer and Explanation

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The Indian Financial Management System (IFMS) integrates:

A. Only receipts

B. Expenditure, receipts, and debt management

C. Only state government accounts

D. Only pension payments

Answer: Option B

Solution (By JKSSB Mock Tests)

IFMS is a comprehensive system covering all aspects of government financial management including budget, expenditure, receipts, and debt.

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

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A 'Non-Resident' is a person who:

A. Has income only outside India

B. Lives abroad permanently

C. Is a foreign citizen

D. Does not satisfy the basic conditions of residence

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Correct Answer: Option D

Explanation:
Non-resident status is determined by fulfilling conditions under Section 6 of Income Tax Act.

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Question #2

The 'GST Suvidha Providers' (GSPs) are:

A. Tax officials

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Correct Answer: Option C

Explanation:
GSPs facilitate taxpayers in filing returns and other GST compliances via software.

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Question #3

'Internal Control' is the responsibility of:

A. Government

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D. Auditor

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Correct Answer: Option B

Explanation:
Management is responsible for establishing and maintaining internal controls.

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