Question : Which of the following funds accounts for flows for those transactions where the government is merely acting as a banker?
Option 1: Customs Fund
Option 2: Consolidated Fund
Option 3: Public Account Fund
Option 4: Contingency Fund
New: SSC Stenographer Application Form 2024 Released
Don't Miss: Month-wise current affairs
Suggested: Upcoming government exams
Correct Answer: Public Account Fund
Solution : The correct answer is Public Account Fund.
When the government only functions as a banker, the flows for those transactions are recorded in the Public Account of India. Article 266(2) of the Constitution establishes this fund. Provident funds, small savings accounts, etc., are examples of Public Account Funds.
Application | Eligibility | Dates | Syllabus
Question : The emoluments and allowances of the President and other expenditures relating to his office are charged on the ____________of India.
Option 1: contingency fund
Option 2: estimates fund
Option 3: consolidated fund
Option 4: public accounts fund
Question : The pension of a High Court Judge is charge on the
Option 1: Public accounts of India
Option 2: Consolidated Fund of the state
Option 3: Public accounts of the state
Option 4: Consolidated fund of India
Question : Which authority recommends the principles governing the grants in -aid of revenues of the states out of the consolidated fund of india?
Option 1: public accounts committee
Option 2: union ministry of finance
Option 3: Finance Commission
Option 4: inter-state council
Question : On firm dissolution, which one of the following accounts should be prepared at the last?
Option 1: Realization account
Option 2: Partner's capital account
Option 3: Partner's loan account
Option 4: Cash account
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile