GFR 2017 MCQ Quiz - 2

GRF 2017 for questions for LDCE in MCQ format; with answers and score checking

MCQ on GFR 2017

General Financial Rules 2017 Multiple Choice Questions

for

Limited Departmental Competitive Exam (LDCE)

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1. When loss of Government money arises due to erroneous or irregular issue of cheques, it should be reported to—

(a) Head of the Department
(b) Head of Office
(c) Controller-General of Accounts
(d) Comptroller and Auditor-General

2. What is the monetary limit in case of theft, fraud, etc., above which the case is to be reported to the Police for investigation?

(a) 50,000
(b) 75,000
(c) 1,00,000
(d) 2,00,000

3. State the monetary limit up to which any loss of immovable property by fire, flood, etc., can be reported by a subordinate authority to the next higher authority—

(a) Up to 5,00,000
(b) Up to 1,00,000
(c) Up to 2,50,000
(d) Up to 50,000

4. What is a Financial Year?

(a) 12 months of a year
(b) 1st January to 31st December
(c) 1st April to 31st March
(d) 1st July to 30th June

5. What is a Budget?

(a) A statement of receipts and payments incurred in a year
(b) A statement of appropriation of funds
(c) A record of all expenses made
(d) A statement of estimated receipts and expenditure of the Central Government

6. Who is responsible to submit the Budget of the Central Government before both the Houses of the Parliament before commencement of a Financial Year?

(a) Prime Minister of India
(b) Finance Minister of India
(c) President of India
(d) Speaker of Lok Sabha

7. From which Financial Year is the Railway Budget included with the General Budget?

(a) 2017-2018
(b) 2016-2017
(c) 2015-2016
(d) 2018-2019

8. Which Articles of the Constitution of India provide for preparation, formulation and submission of Budget to the Parliament?

(a) Articles 109 and 110
(b) Articles 112 to 116
(c) Articles 113 and 114
(d) Articles 116 and 117

9. Which Ministry is competent to issue guidelines for preparation of Budget estimates from time to time?

(a) Ministry of Finance
(b) Ministry of Home Affairs
(c) Ministry of Human Resources
(d) Ministry of Personnel and Training

10. Which of the following items form part of the Budget?

(a) Estimates of all interest and debt servicing charges and any repayments on loans
(b) Estimates of all expenditure for each programme / project
(c) Estimates of revenue expected during the Financial Year
(d) All the above