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2015 Accounting & Financial Rules 2015

1. Who is the Chief Accounting Authority?

a. Chief Secretary b. Under Secretary c. Chief Pr.AO d. Secretary
2. Annual Accounts of Central Ministries are
a. Prepared & certified by CAG b. Prepared & certified by CGA
c. Prepared by CGA & certified by CAG
d. Prepared by Concerned Govt& certified by CGA
3. Contract document should be executed within how many days after the issue of letter of
a. 14 days b. 21 days c. 7 days d. 10 days
4. Central Accounts Section, Nagpur is responsible for
a. Content & maintenance of accounts
b. Keeping complete account of receipt & payments
c. Transact govt business as an agent
d. All
5. Loss exceeding _____ of immovable property by natural cause should be reported.
a. 10000 b. 25000 c.20000 d. 50000
6. Purchase Preference will be granted to Kendriya bhander/National Committee of
Cooperative Forum , if the price quoted by the Cooperative is within ___ of the L1 price & if
these cooperatives are willing to match the L1 price.
a. 1% b. 5% c.10% d. 15%
7. The transaction against Railway Fund, Postal Account, Telecommunication Account&
Defence Account are taken in the books of
a. Subsidiary Account b. RBI c. Respective ministry d. None
8. Find the wrong statement.
a. Institution/Organization desiring grants from Govt are required to submit their
requirements by the end of October in the year preceding the year for which the Grants-i-
aid is sought.
b. Release of grants in excess of 75% of the total amount sanctioned for the subsequent year
shall be done only after UC & Annual Audited statement relating to the grant are submitted
to the satisfaction of the Ministry/Dept.
c. The issue of draft SAR to the Chief executive of the Autonomous Body should be within
14th September.
d. Register of Grant is maintained by the sanctioning authority in the format given in Form
9. Above how much value, the copies of all contracts & agreements for purchase, rate &
running contracts entered into by civil dept should be sent to Audit Officer/Accounts
a. 5 lakhs b. 10 lakhs c. 25 lakhs d. 30 lakhs
10. The CAS, Nagpur maintains a separate proforma account styled, “”Departmentalised
Ministries Account” to
a. Check excess flow of fund b. Keep ministries under control
c. Distinct from other central ministries d. All
11. State Transactions occur in Central Treasuries, where
a. Accounts & Audit are yet to be separated
b. Accounts & Audit are yet to be separated and compilation is still done by CAG
2015 Accounting & Financial Rules 2015

c. Accounts & Audit are yet to be separated and compilation is not done by CAG
d. Accounts & Audit have been separated
12. The Treasuries Rule of each State Govt is in the article _____ of the Indian Constitution
a. 292 b. 293 c. 282 d. 283
13. The Cash balance of the central govt in the books of the CGA at the close of each month will
be reconciled with the statements of closing cash balance received from the
a. CAS, Nagpur b. Central Treasuries c. State AGs d. Dedicated Bank
14. Reconciliation of figures under the head “8675-deposit with RBI” in respect of transaction of
the central govt/UT arising in their books will be effected by
a. CGA b. CAG c. AGs d. Pr.AOs
15. Transactions of the Central & State Govt handled in other countries by the Indian
embassies/missions shall be incorporated primarily in the cash account rendered by them
a. Monthly to the Controller of Accounts, MEA
b. Monthly to the CGA
c. Monthly to DEA, Ministry of Finance
d. Monthly to CAS, Nagpur
16. Budget estimates from consolidated fund should be prepared on
a. Gross basis b. Net basis c. Both d. Accrual basis
17. Annual accounts in respect of State & UT with legislature are prepared by
a. CGA & approved by CAG
b. AG & approved by CAG
c. AG & approved by CGA
d. CAG & approved by State Legislature
18. If the agreed upon _____, it shall be necessary to have an annual statement of proposed
charges from the state govt at the time of preparation of budget
a. 10000 b. 15000 c. 20000 d. 25000
19. Find the wrong one
a. GFR Form-9----DDO b. GFR Form-11----Controlling Officer
c. GFR Form-10----Controlling Offcer d. GFR Form 12----DDO
20. Which of the following is responsibility Controlling officer delegation?
a. Adequate mechanism control of functioning of dept
b. Relinquishment of revenue
c. Grant of concession
d. All
21. Appropriation Accounts of Central Ministries & Central Civil Depts are prepared by
a. CGA b. CAG c. Respective Ministries d. AGs
22. Purchase of which of the following cannot be done from or through DGS&D
a. Industrial Plant b. Books c. Furniture d. Items related to Livestock
23. Union Govt. Appropriation are prepared by
a. CGA b. CAG c. Respective Ministries d. AGs
24. Proforma Accounts relating to Irrigation, Navigation, Embankment & Drainage projects are
prepared by
a. Civil Account Offices b. Respective ministries c. CGA CAG
25. Which head is primarily meant for itemised control over expenditure?
a. Detailed Head b. Sector c. Sub-minor head d. Sub-heads
2015 Accounting & Financial Rules 2015

26. Above which amount Central Govt & State Govt prefer reciprocal arrangement?
a. 1500 b.2500 c. 2000 d. 5000
27. Who shall furnish the actual date of closing of Annual Accounts to CAG?
a. AG(A&E) b. AG(Audit) c. CGA d. CAG himself
28. Expenditure on account of repair of damage due to natural calamity is from
a. Renewal reserve fund b. Determined by Govt
c. Capital Receipts d. Revenue Receipts
29. Which of the statement is not correct?
a. Bid Securities of the unsuccessful bidders should be returned on or before 30th day after
award of the contract.
b. Performance Security should remain valid for a period of 45 days beyond the date of
completion of all contractual obligations.
c. Bid Security is not required for those who are registered with NSIC.
d. Limited Tender Enquiry is adopted when estimated value of goods to be procured is upto
25 lakh.
30. Net gain/loss by exchange in respect of Govt transactions in foreign countries will be
uniformly charged under
a. 8658 b. 8678 c. 2075 2010
31. Which of the following checks may be exercised by ITA during local scrutiny of the draft of
Finance Accounts?
a. Reconciliation of figures between Appropriation & Finance Accounts
b. Advances from Contingency Fund & their subsequent recoupment
c. Difference between Account figures & RBI deposit figures
d. Defective Budgeting
32. An AMC for 50000 will be paid in advance upto
a. 15000 b. 20000 c. 25000 45000
33. A Works Project of ISRO estimated at 25 crore ends up costing 28 crore.
a. The Review Committee puts up objection for the variation
b. The Review Committee approves the expenditure & work
c. The Ministry cant form Review Committee for this amount of Project
d. Internal Finance Wing will give clearance to the variation
34. Above how much value of the consignment, the consignee should have Digital Signature
Certificates to furnish CRC?
a. 50000 b.100000 c. 500000 d. 1000000
35. In cases in which subscription or repayment of advances are paid by deduction from pay
bills, the requisite particulars shall be entered by the ______ in a separate schedule in GAR
Form 41 to be attached to the pay bill.
a. DDO b. HoD c. PAO d. Principal AO
36. Receipts & expenditure pertaining to Scheduled Areas in a state is in article
a. 224 b. 220 c. 243 202
37. Balances in Personal Deposit Account lapses after
a. 1 year b.3 years c. 5 years d. None
38. Un-reconciled balances or differences in state accounts continuing for a period of over ___
years may be written off by an AG to the head 8680, not exceeding 1000.
a. 2 b. 3 c. 5 d. 1
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39. Crucial date for closure of inter-Government adjustments is

a. 28th Feb b. 31st March c. 15th April d. 30th April
40. Central Purchase Organisation under DGS&D is a
a. Service Dept b. Commercial Dept c. Commercial Undertaking d. None
41. Which of the case will be written off from any value or account?
a. Loss of receipts b. Loss of asset
c. Acceptance of counterfeit notes d. Inevitable loss
42. Who would be responsible for ensuring that the periodical reviews of Govt Guarantees are
carried out by Ministries/Dept concerned?
a. Chief Accounting Authority b. Principal Account Office
c. Financial Adviser d. DEA
43. All money received by or on behalf of the Govt either as dues or for deposit, remittance or
else shall be brought into Govt account without delay, in accordance with general or special
orders as issued under
a. Artcle 151 & 150 b. Article 150 & 283
c. Article 150 & 243 d. Article 148 to 151
44. Long term & Short term advances are drawn in GAR Forms
a. 35 & 36 b. 36 & 37 c. 37 & 38 d. 39 & 40
45. Grants-in-aid may be sanctioned to meet the bona fide expenditure incurred not earlier than
____ prior to the date of issue of the sanction.
a. 1 year b. 2 years c. 3 year d. 6 months
46. Which of the following is not a duty or responsibility of HoD?
a. Credit of receipts to consolidated fund & Public Account Fund
b. Recovery of rent of building not entrusted to CPWD
c. Financial Propriety
d. None
47. Find the correct one.
a. Transmission of Finance Accounts to AG(Audit)-5th November
b. Transmission of Appropriation Accounts to AG(Audit)-5th November
c. Made over to press for printing of Appropriation accounts-5th November
d. Made over to press for printing of Finance accounts-5th November
48. What maximum amount can be granted by Govt to set up of a recreation club
a. 25000 b.50000 c. 10000 d. No such limit
49. Which of the following orders is to be endorsed to Account Officers, not necessarily to Audit
a. Sanctions relating grant of advances to Central Govt employees
b. Grant of special Allowances
c. Copies of GFR
d. Non-recurring, contingent & miscellaneous expenditure
50. Cases involving loss not exceeding ____ should not be reported to the higher authority
a. 1000 b. 2000 c. 2500 d. 500
51. The provision of preparation, formulation & submission of budget to the Parliament are
contained in
a. Article 110 to 116 b. Article 112 to 116
c. Article 108 to 114 d. Article 108 to 116
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52. Finance Accounts does not consist of

a. Appropriation Accounts b. Proforma Accounts
c. Indian Embassy/Mission Accounts d. None
53. Sums required to meet other expenditure for which a vote of the House of People is
required under Article
a. 112(3) b. 113(2) c. 112(2) c. 110
54. A Ministry or Dept at its discretion may directly execute works estimated to ____ after
following procedure indicated in Rule 132 of GFR
a. 5 lakh b. 10 lakh c. 20 lakh d.30 lakh
55. AG(Audit) shall certify the Appropriation Accounts in pursuance of provision of Articles
a. 148 & 150 b. 149 & 151 c. 150 & 151 d. 149 only
56. Bid Security is valid for how many days beyond the final bid validity period?
a. 15 b. 21 c. 30 d. 45
57. “Expression of Interest” from consultants should be published in at least one national daily &
Ministry website for work/service of estimated cost
a. 1 lakh to 5 lakh b. 5 lakh to 25 lakh
c. 10 lakh aboved. 25 lakh above
58. Which statement is incorrect?
a. Library Books should be kept in GFR Form-35.
b. For libraries having more than 20000 books but less than 50000, physical verification
should be done once in two years.
c. Report of stores for disposal shall be prepared in GFR Form-17.
d. A Sale account should be prepared for goods disposed of in GFR Form-18.
59. Price variation clause can be provided only in long term contracts, where the delivery period
extends beyond
a. 12 months b. 18 months c. 24 months d. 36 months
60. Detailed Estimates of receipts will be furnished to the Finance Ministry in the GFR Froms-5,
5A, 5B by the ____ each year for the ensuing budget.
a. 31st Dec b. 28th Feb c. 31st Oct d. 30th Nov
61. Which of the form is not in order?
a. GFR-36---Notice for repayment of loans & interest
b. GFR-32---Undertaking by Govt owned company at the time of sanctioning loan
c. GFR-20---Annual Returns
d. GFR-42---Register of Guarantees
62. In order to minimize the balance under Traffic Suspense-Cash-in-Transit at the close of
financial year, Ministry of Railways may keep their cash book open till
a. 10th April b. 15th April c. 30th April d. 31s March
63. Departmental Officers normally can receive cash up-to
a. 10 b. 50 c. 100 d. 500
64. Correction Slips are issued when
a. Documents are laid before legislature b. Error noticed in printed copies
c. Accounts & reports have been forwarded to Govt. d. At any time before submission
65. Financial Accounts does not contain which of the following?
a. Distribution between voted & charged expenditure
b. Investments c. Loans & debts d. None
2015 Accounting & Financial Rules 2015

66. A due of 50000 to government was honoured for presentation to a departmental officer via
cheque/draft on Monday. It shall be deemed to have been paid on
a. Monday b. Tuesday c. Wednesday d. Thursday
67. Contingent charges which cannot be incurred without previous sanction of superior
authority is
a. Special Contingency b. Scale-regulated Contingency
b. Fully vouched Contingency c. Contract Contingency
68. For payment below which amount no Indemnity Bond in GAR from-26 will be executed, on
behalf of a deceased Govt servant?
a. 1000 b. 5000 c. 10000 d. 15000
69. A monthly detailed bill shall be prepared in the case of contingent charges to be
countersigned after payment, from the monthly totals of the contingent register; such
detailed bill will be in GAR Form _____ , headed ‘Not for Payment’ & will show the monthly
total of each column with description of each charge requiring explanation.
a. 29 b. 30 c. 31 d. 32
70. Up-to how much amount contingent expenditure can be paid out of permanent advance?
a. 500 b. 1000 c. 2000 d. 5000
71. In personal deposit account an overall check is done by bank for
a. Checking balance b. Checking transaction
c. Checking types of transaction d. Checking authorisation
72. Money can be withdrawn from Govt account by
a. Direction of MoF
b. Cheques issued by account officer on an account opened in his favour
c. CDDO on an assignment account opened in his favour
d. All
73. The procedure of safe custody of moneys in hand of Govt officers shall be regulated by the
provisions contained in
a. GFR b. GAR c. R&P Rules d. Treasury Rules
74. Printed copies of the Appropriation Accounts & Finance Accounts should be submitted to
CAG for his signature latest by
a. 31st December b. 31st January c. 28th February d. 30th November
75. Fees of candidates residing outside India for examination conducted by UPSC or SSC may be
received by
a. Missions abroad b. PAO of UPSC or SSC
c. MoF d. Not admissible for such exams
76. Lapsed deposits are credited to
a. Consolidated Fund b. Contingency Fund
c. Public Account Fund d. Personal Deposit Account
77. During absence of HoD & of Gazetted Officer to whom the duty of maintenance of
contingent register has been delegated, the entries in the contingent register shall be
initialled by
a. Non-Gazetted Officer b. PAO
c. No contingent bills will be passed d. Both cannot be absent at the same time
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78. The budget estimates include

a. Arrears of the previous year b. Does not include arrears of previous year
c. Arrears of current year only d. Arrears are excluded
79. Which of the following statement is correct in regulation of grants-in-aid for Govt
employees’ welfare?
a. It is admissible on the basis of expenditure of the organisation.
b. Industrial workers are covered by these orders
c. The rate of grants-in-aid will be 75 per head pre annum
d. Staff of IA&AD are regulated by separate orders.
80. Which of the following is not a general principle of contract?
a. The clause of price variation, if any, should stipulate a minimum % of variation of the
contract above which price variations will be admissible.
b. No price variation will be admissible beyond the original Scheduled Delivery date for
defaults on the part of supplier.
c. Where advances or stage payments are made, there should be also a stipulation of price
variation on such portions of price, after the date of such payments.
d. There should be a provision for recovery of liquidated damages for defaults on part of the
81. Which body shall act as nodal agency of external borrowings?
a. DEA b. RBI c. MEA d. Finance Commission
82. Which should be the reference point for submission of TA claim of a retired Govt servant
appearing in a court of law for defending himself?
a. Date of pronouncement of the judgement b. Date of interval in judgement
c. Admissible if judgement is in favour d. No such TA is admissible for retired
83. Any inter-departmental claims shall not be preferred beyond ______ from the date of
a. 1 year b. 2 years c. 3 years d. 5 years
84. The amount of security to be obtained from a Govt servant shall be determined on the basis
a. Actual Cash handled b. Payee Cheques c. Drafts d. All
85. Which of the following is not shown in Appropriation Accounts?
a. Total expenditure b. Total Income c. Total recoveries d. All
86. Per contra adjustments will be in
a. Appropriation Accounts b. Finance Accounts
c. Both d. Audit Report
87. In detailed Accounts & Statements under Finance Accounts the figures should be given in
rupee units of
a. Lakhs b. Crores c. Thousands d. None
88. The compilation of Appropriation Accounts of the Govt..... for the year.... presents the
accounts of the sum expended in the year ended 31st March..., compared with the sums
specified in the schedules appended to the Appropriation Acts passed under Articles
a. 204 & 205 b. 205 & 206 c. 203 & 204 d. 199 & 200
89. If there is an excess over a grant of appropriation due to miss-classification/reclassification
in accounts, then
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a. Serious comment should be made by CAG over it

b. Such excess is to be shown in Appropriation Accounts
c. Dept obtaining such excess should apply for new budget
d. Not generally required to be regularized by the Legislature.
90. Which of the following is correct?
a. Article 150 of the constitution contains general directions for opening Heads of
b. Ministries/Depts may open sub-heads in consultation with DEA.
c. The Principal AO may open sub-head falling under Consolidated Fund of India.
d. Power to amend or modify object heads rests with the Budget Division of MoF.
91. Which of the following is not a loss due to depreciation?
a. Loss due to neglect b. Loss due to normal wear & tear
c. Loss due to negligence after purchase d. Loss due to normal price fluctuation
92. Where it is proposed to perform the initial part of the outward Journey by rail, the advance,
may be granted ______ before the proposed date of journey.
a. 10 days b. 15 days c. 30 days 60 days
93. Which of the following conditions fulfils the sanction of second TA advance?
a. Second journey is within a week after completion of the first tour.
b. Bills for the advance should be submitted latest within a week after completion of second
c. Two advances, in any case should not be allowed remain outstanding at a time.
d. All
94. Amount of advances shall be rounded off to the nearest multiple of
a. 10 b. 50 c. 100 d. Rupee
95. The process of compilation of detailed demands for grants should start in
a. April/May b. July/August c. October/November d. March/April
96. Find the incorrect statement.
a. In execution of works open tenders will be called for works costing 5 lakhs to 10 lakhs
b. In execution of works limited tenders will be called for works costing less than 5 lakhs
c. In procurement of goods & services single tender enquiry will be called for procurement
from a single source costing above 1 lakh
d. Limited Tender enquiry is for procurement of goods/services valuing above 10 lakh.
97. In making rupee deposits in the govt account in respect of import finance under Direct
Payment Procedure applicable in various foreign loans or credits, Form GAR ____ will be
used invariably in quadruplicate.
a. 8 b. 12 c. 24 d. 38
98. CDDO can make payment for
a. Advance from PF b. Withdrawal from PF
c. Any Payment from PF d. None
99. A Bill Transit Register in Form 10 should be maintained by all HoD to
a. Prevent presentation of fraudulent bills
b. Calculate the total recurring Bill passed
c. Keep an eye on Cheques issued by CDDO
d. Control expenditure
2015 Accounting & Financial Rules 2015

100. Estimates of Non-Plan expenditure should reach the MoF, DEA, Budget Division by the date
prescribed by the MoF, each year, in triplicate Form GFR ___.
a. 7 b. 8 c. 5 d. No such GFR Form exists.