| Column A | Column B | ||
| I. | Public Account | A. | Consists of all revenues and loans received by the government |
| II. | Consolidated | B. | Comprises of the sum placed at the disposal of the president to meet unforeseen expenditure |
| III. | Contingency | C. | Consists of receipts and payments, which are in from of deposit account with the government, such as provident funds, small saving, etc |
A) I-C, II-A, III-B
B) I-A, II-B, III-C
C) I-A, II-D, III-B
D) I-B, II-A, III-C
Correct Answer: A
Solution :
The budget shows the receipts and payments of the government under three heads. All revenues and loans received by the government comes under? Consolidated fund, sum placed at the disposal of the President to meet unforeseen expenditure falls under Contingency fund and receipts & payments which are in form of deposit account with the government comprises Public Account
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