The 'Secretarial Audit' is mandated for: MCQ with Answer and Explanation
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Question #1
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Public Financial Management System (PFMS) helps in:
Correct Answer: Option B
Explanation:
PFMS aims to track funds, monitor subsidies, ensure DBT, and reduce leakages in public expenditure.
PFMS aims to track funds, monitor subsidies, ensure DBT, and reduce leakages in public expenditure.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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S1: In a cash flow statement under Ind AS 7, dividends paid can be classified as either operating or financing activities. S2: Interest paid can be classified as either operating or financing activities. Which statement(s) is/are correct?
Correct Answer: Option D
Explanation:
Ind AS 7 allows flexibility. Dividends paid can be classified as financing (cash outflow for financing) or operating (to assist in determining cash from operations). Interest paid can be operating or financing. Both are correct.
Ind AS 7 allows flexibility. Dividends paid can be classified as financing (cash outflow for financing) or operating (to assist in determining cash from operations). Interest paid can be operating or financing. Both are correct.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is a non-cash item in the Profit & Loss Account?
Correct Answer: Option A
Explanation:
Depreciation is a non-cash expense, as no cash outflow occurs.
Depreciation is a non-cash expense, as no cash outflow occurs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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