The 'Performance Budget' focuses on: MCQ with Answer and Explanation

Question
The 'Performance Budget' focuses on:
A. How much money is spent
B. When the money is spent
C. Who spends the money
D. What is achieved with the money spent
Answer: Option D
Solution (By JKSSB Mock Tests)
It links outlays to outputs/outcomes.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
The primary objective of PFMS in India is to facilitate:
A. Just-in-time release of funds and end-to-end tracking of public funds
B. Collection of corporate taxes
C. Stock market regulation
D. Printing of currency notes
Discuss
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Correct Answer: Option A

Explanation:
PFMS ensures transparency, tracking of fund utilization down to the lowest level, and Direct Benefit Transfers directly into beneficiaries' accounts.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
PFMS is an initiative of the Government of India to:
A. Provide loans to farmers
B. Manage corporate taxes
C. Ensure a robust public financial management system and direct benefit transfers
D. Regulate stock exchanges
Discuss
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Correct Answer: Option C

Explanation:
PFMS tracks funds and facilitates DBT for various government schemes.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Written Representations' from management are required to:
A. Replace all other audit evidence
B. Be the sole evidence
C. Complement other audit evidence and confirm management's responsibilities
D. Only for fraud
Discuss
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Correct Answer: Option C

Explanation:
Written representations support, but do not substitute for, sufficient appropriate evidence.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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