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question_answer1)
What is budget?
A)
It is a monthly financial statement of estimated receipts and expenditures of the Government of India in a financial year. done
clear
B)
It is an annual financial statement of estimated expenditures of the Government of India in respect of each financial year. done
clear
C)
It is quarterly financial statement of estimated receipts of the Government of India in respect of each financial year. done
clear
D)
It is an annual financial statement of estimated receipts and expenditures of the Government of India in respect of each financial year. done
clear
E)
None of these done
clear
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question_answer2)
Which of the following is true regarding a budget? (1) Budget is a legal document. (2) It is passed by the legislature (3) It is approved by the President. |
A)
Only option 1 is correct. done
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B)
Only option 1 & 2 are correct. done
clear
C)
Only option 2 & 3 are correct. done
clear
D)
All of these done
clear
E)
None of these done
clear
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question_answer3)
What were the different types of budget presented in India? (1) The Union Budget is presented to the Parliament in two parts. (2) Railway Budget consists of the detail of Indian Railway. (3) General Budget consists the financial detail of Indian Government. |
A)
Only option A, B & C is correct. done
clear
B)
Only option A & B are correct. done
clear
C)
Only option B & C are correct. done
clear
D)
Only option A & C are correct. done
clear
E)
None of these done
clear
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question_answer4)
Which of the following is true regarding the nature and objective of budget? (1) Government Budget is designed for optimal allocation of scarce resources. (2) The main objective of Government financial management is to determine how adequately the financial and resource management responsibilities have been discharged (3) The broad objectives of the Government to be broken down into detailed work plans. |
A)
Only option B & C is correct. done
clear
B)
Only option A & B are correct. done
clear
C)
Only option A, B & C are correct. done
clear
D)
Only option A & C are correct. done
clear
E)
None of these done
clear
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question_answer5)
Which of the following is true regarding budget preparation in India? (1) Budget preparation in India is a calculative process between the Ministry of Finance and the spending Ministries. (2) Top down approach with the Ministry of Finance issuing guidelines or communicating instructions to spending Ministries. (3) A bottom-up approach, wherein the spending Ministries plan and present requests for budget allocation. |
A)
Only option B & C is correct. done
clear
B)
Only option A, B & C are correct. done
clear
C)
Only option A & B are correct. done
clear
D)
Only option A & C are correct. done
clear
E)
None of these done
clear
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question_answer6)
What are the components of a budget?
A)
Annual Financial Statement done
clear
B)
Finance Bill done
clear
C)
Appropriation Bill done
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D)
Demands for Grants done
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E)
All of the above done
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question_answer7)
When is a budget presented in the Lok Sabha? (1) It is presented in accordance with article 204(1) of rules of procedure and conduct of business. (2) The budget is presented in the Lok Sabha on the day as fixed by the president of India (3) Now it is presented at 11 am on the first working day of February. |
A)
Option A, B & C is correct. done
clear
B)
Only option B & C are correct. done
clear
C)
Only option A & B are correct. done
clear
D)
Only option A & C are correct. done
clear
E)
None done
clear
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question_answer8)
Which of the following is related to budget?
A)
Plan expenditure done
clear
B)
Decided expenditure done
clear
C)
Undecided expenditure done
clear
D)
Option a & b are true done
clear
E)
Options b & c is true done
clear
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question_answer9)
Which of the following is included to scheme expenditure?
A)
Central plans done
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B)
Centrally sponsored state plans done
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C)
Only option b is true done
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D)
Only option a is true done
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E)
Both a and b is true done
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question_answer10)
Which of the following is included to non-scheme expenditure?
A)
Interest payments done
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B)
Subsidies done
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C)
wage and salary payments to government employees done
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D)
All of these done
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E)
None of these done
clear
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question_answer11)
Borrowing is included in which of the following account?
A)
Current account done
clear
B)
Saving account done
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C)
Capital account done
clear
D)
Social account done
clear
E)
None of these done
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question_answer12)
Article 112 of the Constitution of India is related to:
A)
Budget (Annual Financial Statement) done
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B)
Financial Emergency done
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C)
National Emergency done
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D)
State budget done
clear
E)
None of these done
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question_answer13)
Article 110 of the Constitution of India is related to:
A)
Budget done
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B)
Financial Bill done
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C)
Money Bill done
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D)
State budget done
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E)
None of these done
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question_answer14)
Article 117 of the Constitution of India is related to
A)
Budget done
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B)
Financial Bill done
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C)
Money Bill done
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D)
State budget done
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E)
None of these done
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question_answer15)
Which of the following is a type of budget?
A)
Deficit budget done
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B)
Surplus Budget done
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C)
Balanced budget done
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D)
Interim Budget done
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E)
All of these done
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question_answer16)
Which of the following fund is related to article 266(i)?
A)
Contingency Fund done
clear
B)
Consolidated Fund done
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C)
Public Account Fund done
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D)
All of these done
clear
E)
None of these done
clear
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question_answer17)
Which of the following fund is related to article 266(ii)?
A)
Contingency Fund done
clear
B)
Consolidated Fund done
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C)
Public Account Fund done
clear
D)
All of these done
clear
E)
None of these done
clear
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question_answer18)
Which of the following fund is related to article 267?
A)
Contingency Fund done
clear
B)
Consolidated Fund done
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C)
Public Account Fund done
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D)
All of these done
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E)
None of these done
clear
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question_answer19)
What is the amount allocated for Contingency Fund?
A)
Rs. 50 crores done
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B)
Rs. 500 crores done
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C)
Rs. 5,000 crores done
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D)
Rs. 50,000 crores done
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E)
None of these done
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question_answer20)
Revenue Deficit is defined as:
A)
Total Revenue Expenditure - Total Revenue Receipt done
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B)
Revenue receipt plus Revenue expenditure done
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C)
Revenue receipt minus Capital expenditure done
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D)
Capital receipt minus Revenue expenditure done
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E)
None of these done
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question_answer21)
Fiscal Deficit is defined as:
A)
Total Capital receipt minus Revenue expenditure done
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B)
Total Borrowing minus Total expenditure done
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C)
Total Revenue receipt plus Revenue expenditure done
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D)
Total Receipt minus Total expenditure assess done
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E)
Total (non-borrowed) Receipt minus Total expenditure done
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question_answer22)
Primary Deficit is defined as:
A)
Fiscal Deficit - interest payments done
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B)
Fiscal Deficit - interest payments done
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C)
Fiscal Deficit - Revenue Expenditure done
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D)
Fiscal Deficit - Capital Expenditure done
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E)
None of these done
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question_answer23)
Which of the following Deficit indicates lack of resources to accomplish a decided target for coming year:
A)
Revenue Deficit done
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B)
Capital Deficit done
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C)
Primary Deficit done
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D)
Fiscal Deficit done
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E)
None of these done
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question_answer24)
Non-scheme revenue expenditure includes: (1) Interest payments, subsidies (mainly on food and fertilizers). (2) Wage and salary payments to government employees, grants to States and Union Territories governments. (3) Payment for Pensions, police, economic services in various sectors, other general services such as tax collection, social services, and grants to foreign governments. |
A)
Only option 1 & 3 is correct done
clear
B)
Only option 2 & 3 are correct done
clear
C)
Only option 1, 2 & 3 are correct done
clear
D)
All of the above done
clear
E)
None of these done
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question_answer25)
Non-scheme capital expenditure mainly includes: (1) Defence expenditure (2) Loans to public enterprises and loans to States. (3) Loans to Union Territories and foreign governments. |
A)
Only option 1 & 3 are correct done
clear
B)
Only option 2 & 3 are correct done
clear
C)
Only option 1 & 2 are correct done
clear
D)
All of the above done
clear
E)
None of these done
clear
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