The 'Public Account Committee' examines: MCQ with Answer and Explanation

The 'Public Account Committee' examines:
A. audited appropriation accounts and CAG reports
B. budget estimates
C. defence policy
D. foreign policy
Answer: Option A
Solution (By JKSSB Mock Tests)
Public Account Committee examines audited accounts and CAG reports.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is NOT a type of unemployment in developing countries?
A. Seasonal unemployment
B. Disguised unemployment
C. Open unemployment
D. Natural rate of unemployment as a policy target only

Correct Answer: Option D


Explanation:
Disguised, seasonal and open unemployment are common in developing countries. The natural rate of unemployment is a concept more relevant to developed economies and macroeconomic policy.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Lifelong Learning' in the context of technological change emphasises:
A. The need for continuous education and skill upgrading throughout an individual’s working life
B. Only on-the-job training without formal education
C. The irrelevance of skills in a digital economy
D. Only front-loaded education in youth

Correct Answer: Option A


Explanation:
Lifelong learning refers to the ongoing, voluntary and self-motivated pursuit of knowledge and skills throughout life, which becomes increasingly important as technological change accelerates the obsolescence of existing skills.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Base Erosion and Profit Shifting' concerns tax avoidance by:
A. government departments
B. non-profit organizations
C. individual employees
D. multinational enterprises shifting profits to low-tax jurisdictions

Correct Answer: Option D


Explanation:
BEPS involves multinational enterprises shifting profits to low-tax jurisdictions.

This question belongs to: Economy GK Economy Set 1