Which unique identifier is increasingly linked with PFMS to ensure accurate delivery of benefits? MCQ with Answer and Explanation

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Which unique identifier is increasingly linked with PFMS to ensure accurate delivery of benefits?

A. PAN Card

B. Passport Number

C. Aadhaar Number

D. Voter ID

Answer: Option C

Solution (By JKExamLibrary)

Aadhaar is heavily integrated into PFMS for authenticating beneficiaries and ensuring duplicate or ghost accounts are eliminated.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1 Report Error

Under GST, the 'E-way bill' is not required for the movement of goods:

A. None of the above

B. From the consignor's place of business to the transporter's place of business for transportation

C. Both A and B

D. Where the consignment value is less than ₹50,000

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Correct Answer: Option C

Explanation:
An e-way bill is not required if the consignment value is below ₹50,000, or for specific movements like goods being sent to a transporter for the purpose of transportation from the consignor's place of business.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

Under the 'Reducing Balance Method' of depreciation, the asset's value:

A. Remains constant

B. Becomes negative

C. Becomes zero at the end of useful life

D. Never becomes zero

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Correct Answer: Option D

Explanation:
Under WDV method, the book value never reaches zero, as depreciation is charged on reducing balance.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

In the context of the Indian Financial System, the 'Securities Appellate Tribunal' (SAT) hears appeals against the orders of:

A. Reserve Bank of India

B. Ministry of Corporate Affairs

C. SEBI, PFRDA, and IRDAI

D. Competition Commission of India

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Correct Answer: Option C

Explanation:
The Securities Appellate Tribunal (SAT) is a statutory body that hears appeals against orders passed by SEBI, PFRDA (Pension Fund Regulatory and Development Authority), and IRDAI (Insurance Regulatory and Development Authority).

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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