यातायात लेखा निरीक्षण करने का मुख्य उद्देश्य (Main Purpose of Traffic Audit Inspection)

यातायात लेखा निरीक्षण करने का मुख्य उद्देश्य 
(Main Purpose of Traffic Audit Inspection)

भारतीय रेल  में यातायात लेखा (Traffic Accounts) राजस्व (Revenue) की शुद्धता, पूर्णता एवं सुरक्षा सुनिश्चित करने की एक महत्वपूर्ण प्रणाली है। स्टेशन (Station) द्वारा तैयार की जाने वाली दैनिक (Daily), आवधिक (Periodical) एवं मासिक (Monthly) विवरणियाँ (Returns) यातायात लेखा कार्यालय (Traffic Accounts Office) को भेजी जाती हैं, जबकि उनसे संबंधित मूल अभिलेख (Original Records) स्टेशन पर ही सुरक्षित रहते हैं। केवल कार्यालयीय जांच (Office Scrutiny) से राजस्व की पूर्ण सत्यता सुनिश्चित नहीं की जा सकती, इसलिए स्टेशनों का नियमित एवं आकस्मिक निरीक्षण (Regular and Surprise Inspection) आवश्यक होता है।

इसी उद्देश्य से यातायात लेखा कार्यालय में निरीक्षण शाखा (Inspection Branch) कार्य करती है तथा चल लेखा निरीक्षक (Travelling Inspectors of Accounts - TIA) विभिन्न स्टेशनों का निरीक्षण करते हैं।

आवश्यकता प्रमाण-पत्र (Urgency Certificate)

 

रेलवे प्रशासन में सामान्य सिद्धांत यह है कि किसी भी कार्य (Work) को तब तक प्रारम्भ नहीं किया जाना चाहिए जब तक कि उसके लिए सक्षम प्राधिकारी (Competent Authority) की स्वीकृति (Sanction) तथा आवश्यक निधि (Funds) उपलब्ध न हो। यह सिद्धांत वित्तीय औचित्य (Financial Propriety) तथा बजटीय नियंत्रण (Budgetary Control) का मूल आधार है।

किन्तु कुछ असाधारण परिस्थितियों में, विशेषकर जब मानव जीवन (Life), रेलवे सम्पत्ति (Railway Property), संरक्षा (Safety) अथवा रेल यातायात (Rail Traffic) को तत्काल खतरा हो, तब कार्य प्रारम्भ करने में विलम्ब करना सार्वजनिक हित के प्रतिकूल हो सकता है। ऐसी परिस्थितियों में कार्य को तत्काल प्रारम्भ करने की अनुमति दी जाती है तथा बाद में सक्षम प्राधिकारी की स्वीकृति प्राप्त की जाती है। इस उद्देश्य से जो रिपोर्ट प्रस्तुत की जाती है उसे आवश्यकता प्रमाण-पत्र (Urgency Certificate) अथवा तात्कालिकता प्रतिवेदन (Urgency Report) कहा जाता है।

TENDER COMMITTEE (निविदा समिति)

 TENDER COMMITTEE (निविदा समिति)

1. Tender Committee क्या है?

Tender Committee (TC) वह समिति है जिसे लागू Railway rules, Stores Code, Schedule of Powers तथा संबंधित procurement/contract की प्रकृति के अनुसार निविदाओं की जाँच, मूल्यांकन एवं सक्षम/स्वीकृति प्राधिकारी के लिए अनुशंसा (Recommendation) करने हेतु गठित किया जाता है।

Tender Committee का उद्देश्य प्राप्त tenders का निष्पक्ष, वस्तुनिष्ठ, तकनीकी, वाणिज्यिक एवं वित्तीय परीक्षण करके उचित recommendation देना है।

महत्वपूर्ण: Tender Committee की संरचना प्रत्येक प्रकार के tender में समान नहीं होती। Stores procurement, Works tender, Consultancy contract आदि के लिए लागू rules/SOP के अनुसार Committee की composition और accepting authority अलग हो सकती है। Railway Board के official records में Stores tenders के लिए Para 701 एवं 702 of Stores Code के संदर्भ में Tender Committee और Accepting Authority की व्यवस्था दी गई है।

RSP - ROLLING STOCK PROGRAM

RSP - ROLLING STOCK PROGRAM

(RSP Plan - Head 21 under Demand No.16)

RSP Inclusions -

 1) acquiring new rolling stock such as locos, coaches, wagons, cranes tower wagons, track machines, Break Down Cranes etc.,

 

2) Midlife rehabilitation/modernization of rolling stock. 

3) Major modifications to be carried out on the Rolling stock which primarily changes their class i.e., conversion of coaches into ART - Accident Relief Train 

4) Modifications which are of improvement nature, chargeable to Development Fund

Short Notes - FINANCIAL RULES FOR COMPETITIVE EXAMINATION

• Cannons / Standards of Financial Propriety Click Here

• Urgency Certificate – Click Here

• Operating Ratio - Click Here

( 2 ) Budgetary Reviews -  

Railway Administrations should review their expenditure in August to see whether any modifications are necessary in the allotments placed at their disposal.  The review in respect of each grant should be submitted, to the Railway Board in form No. F-383 so as to reach them not later than 1^st  September each year.

परिचालन अनुपात (Operating Ratio) ( हिन्दी / English)

परिचालन अनुपात 

किसी भी उद्दम के परिचालन की वित्तीय कार्यकुशलता उसके परिचालन अनुपात से देखीजाती है जो वर्ष के लाभ - हानि विवरण और वर्ष के अंत में तुलन पत्र से परिकलित किया जाता है।  

संचालन व्यय का कुल आय के साथ प्रतिशत को परिचालन अनुपात कहते है सामान्य परिभाषा में प्रति सौ रूपये की आय पर होने वाला संचालन व्यय जिसमे मूल्य ह्रास आरक्षित निधि तथा पेंशन निधी पर होने वाला व्यय शामिल है।  परिचालन अनुपात सभी रेलों व  क्षेत्रीय रेलों के स्तरों पर प्रत्येक की वित्तीय कार्यकुशलता का मूल्यांकन किया जाता है ।  

                                       सकल संचालन व्यय (डी. आर. एफ. तथा पेंशन निधि सहित 

परिचालन अनुपातप  =  ------------------------------------------------------------------------ X  100

                                                      सकल यातायात प्राप्तिया    

Operating Ratio –

Operating Ratio is the ratio which the total working expenses excluding suspense of a Railway bear to its gross earning or in other words represents the percentage of working expenses in this connection include appropriation to DRF and Pension fund as well. This is used to measure the efficiency of the railway.  In other words, it represents the percentage of Working Expenses to Total Earnings.

Operating Ratio has been regarded as one of the most important financial statistics and has frequently been used as an index of the operating efficiency of a Railway. This ratio continues to be worked out from year to year and is reflected in the accounting system. In comparing the ratio of one year with another of the same

Railways, great care must be taken to see that the terms “Working expenses” and “Gross earnings” are clearly defined and that the figures have been compiled on the same basis. The object of a Railway Administration is to keep this ratio as low as possible consistent with efficient working and good maintenance; it will tend to fall with efficient working, increase of traffic and fall in expenditure.

Traffic Earnings & Check of Traffic Earnings

Check of Traffic Earnings

Railway Traffic Earnings - The revenues of railways accrue mostly from the transport of passengers and goods traffic and are realized through the booking points located at stations, Goods Sheds, Private Freight Terminals, Container Depots, Out Agencies, Non Rail heads PRS / UTS Terminals, Private Sidings, and Non-Government (NGR) Lines, SPV Lines etc. where the transactions originate and are brought to account. In addition to revenue from transport of passenger and Goods traffic, Railway revenue also accrues from other sundry sources like parking contracts, publicity rights, award of right of way etc.

Letter of credit

Letter of credit 

It is a bank instrument frequently issued between banks in different countries for the payment of import contracts. It may be defined as an instrument authorizing the (issuing) bank on behalf of the purchaser (Applicant) to pay a certain sum of money to specified seller(s) (Beneficiary) provided the seller(s) submit the documents as prescribed in the Letter of Credit.

In other word letter of credit is a piece of document that serves as instruction of guaranteed payment from the buyer to the seller. Also known as a documentary credit, a letter of credit is issued by the bank and acts as a promise of timely payment to the seller. If the buyer supposedly fails to perform his due obligation, then the bank pays the seller on behalf of the buyer who in turn repays the bank. This is a brief summation of the letter of credit process.

Special Limited Tender:

Special Limited Tender

Except in respect of emergency purchases and safety items, this system may be applied to orders, in estimated value of which is Rs. 10 lakhs and above, with the sanction of the General Manager, subject to the following conditions:-

(a)That sufficient reasons exist which indicate that it is not in the public interest to call for tenders by advertisements. 

Limited Tender

Limited Tender

This system may ordinarily be adopted in the cases of the estimated tender value of which does not exceed Rs. 10 lakh. In case of items whose approved list of vendors is issued by centralized agency i.e. RDSO/Production Units (PUs)/CORE etc., this system may be adopted in the case of purchases, the estimated value of which does not exceed Rs. 2 crore.

Single Tender

Single Tender

This system may be adopted in case of purchase of items in following cases. 

1. Proprietary articles where it has been possible to certify that a similar article, which could be used in lieu is not manufactured /sold by any other firm (PAC ‘C’ certified), Purchase powers are of different officers Are upto their level of acceptance.

Short Note on Security Deposit

SECURITY DEPOSITS

(I) Amount of Security deposits are to be paid by the contractor for the due fulfilment of contracts. The security deposit/rate of recovery/mode of recovery on acceptance of tender shall be as under :

a. These security deposit for each work will be 5% of the contract value.

b. The rate of recovery will be at the rate of 10% of the bill amount till the full security amount is recovered.

लेखा विभाग एक परिचय, कार्य , विभाग, क्षेत्र एवं संगठन

लेखा विभाग एक परिचय 

भारतीय रेलवे विश्व में अपना महत्वपूर्ण स्थान रखता है और वर्तमान में भारतीय रेलवे में लगभग 14.42 लाख कर्मचारी कार्य करते है। प्रतिदिन भारतीय रेले पृथ्वी से चन्द्रमा की दूरी का 3.5 गुणा दूरी तय करती है वर्तमान में यह विश्व की दूसरी एवं एशिया में प्रथम स्थान पर है, इस प्रकार यह देश का सबसे बड़ा संगठन है ।

रेलवे संगठन के उद्देश्यों की प्राप्ति एवं संगठन को सुचारू रूप से चलाने क लिए विभिन्न विभागों की स्थापना की गई है। इनमे से लेखा विभाग एक जो की महत्वपूर्ण भूमिका अदा करता है। लेखा विभाग की स्थिति ठीक वैसी ही है जैसी एक सेठ  के यहाँ मुनीम की होती है। सभी महत्वाकांक्षी योजनाए लाभकारी नही होती, कौनसी योजना स्वीकार करने योग्य है किसे अभी टाल दिया जाना चाहिये इत्यादि निर्णय, बकाया की उगाही, भुगतान, व्ययों पर नियंत्रण एवं वित्त का प्रभावी संयोजन किसी प्रतिष्ठान की सफलता के लिए आवश्यक है और ये सभी लेखा विभाग द्वारा निष्पादित किये जाते है। इस प्रकार लेखा कार्य अप्रत्यक्ष किन्तु महत्वपूर्ण है। 

Account’s Check of Traffic Earnings

 

1. The revenues of railways accrue mostly from the transport of passengers and goods traffic and are realized through the booking points located at stations, Goods Sheds, Private Freight Terminals, Container Depots, Out Agencies, Non Rail heads PRS/UTS Terminals, Private Sidings, and Non- Government (NGR) Lines, SPV Lines etc. where the transactions originate and are brought to account. In addition to revenue from transport of passenger and Goods traffic, Railway revenue also accrues from other sundry sources like parking contracts, publicity rights, award of right of way etc.

Q & A (New Pattern) - Business policy and strategy For Departmental Exam Account & Finance

1)The Model Schedule of Powers (MSoP) issued by Railway Board in 2017/18 was significant because

(A)It brought about uniformity in schedule of delegation of powers across Zonal Railways


(B)It delegated all financial powers vested with the Railway Board to General Managers of Zonal Railways


(C)This MSoP focused on IT integration on Zonal Railways for the first time


(D)It was based upon the GFR delegation of Govt. of India


2)The Railway Budget has been merged with the General Budget w.e.f.


(A) 2016-17


(B) 2017-18


(C) 2018-19


(D) 2015-16


3)The dividend payable by Indian Railways after the merger of Railway Budget with General Budget is


(A)2% of capital at charge of IR


(B)NIL


(C)1% of capital at charge


(D)A notional amount of 100 crores every year


4)The full form of RRSK is


(A)Rashtriya Rail Suvidha Kosh


(B)Rashtriya Rail Safety Kosh


(C)Rashtriya Rail Sanraksha Kosh


(D)Rashtriya Rail Sampark Kosh


5)The co untries with more than one billion tons of freight carried every year by rail are:


(A)Japan, China, India and USA


(B)Australia, Japan, China and India


(C)Russia, China, India and Brazil


(D)India, China, Russia and China


6)Which is not an example of EBR Funding in Indian Railways


(A) Leased assets from IRFC


(B) LIC loan


(C) RRSK Funds


(D) None of the above


7)Railways requirement is funding its capital expenditure through its internal resources to the extent of ______ in the last few years:


(A)50% to 60%


(B)25% to 30%


(C)5% to 15%


(D)20% to 40% 9


8)The performance capability of Electric Loco WAG 12B Loco recently introduced in Indian Railways in 2020 is


(A)10,000 HP, capable of MPS of 80 kmph and can carry 100 loaded wagons


(B)12,000 HP, capable of MPS of 100 kmph and can haul 118 loaded wagons


(C)11,500 HP, capable of MPS of 100 kmph and can haul up to 150 loaded wagons


(D)10,000 HP, capable of MPS of 75 kmph and can carry 125 loaded wagons


9)In terms of energy efficiency and resource optimization, Railways are:


(A) 12 times more efficient in freight traffic as compared to road transport


(B) 6 times more efficient in freight traffic as compared to road transport


(C) 10 times more efficient in freight traffic as compared to road transport


(D) 15 times more efficient in freight traffic as compared to road transport


10)By 2030, Indian Railways plans to increase its freight share by _____% to support transportation emissions mitigation strategies


(A)From 35 to 45%


(B)From 35 to 50%


(C)From 35 to 65%


(D)From 35 to 75%


11)In terms of energy efficiency, which is superior braking power?


(A) Vacuum brakes


(B) Air brakes


(C) Regeneration brakes


(D) None of the above


12)IROAF has tied up with which two institutes for production of Methanol and other


(A)National Institute of Solar Energy (NISE) and TERI


(B)Indian Institute of Petroleum and NISE


(C)Indian Institute of Technology, New Delhi, and TERI


(D)Ministry of Environment and IIT/Delhi


13)Which of the following is NOT identified for development as Eco Smart Stations in IR as the result of NGT New Delhi notification of 2019


(A)Surat, Lumding and Indore


(B)Bilaspur, Digha and Katihar


(C)Lucknow Jn, Varanasi and Jodhpur


(D)Jabalpur, Ajmer and Pune


14)Identify the autonomous bodies / authorities of IR out of the following options:


(A) CONCOR and DFCCIL


(B) RITES and RVNL


(C) CORE and IRFC


(D) CRIS and RLDA


15)What is the total number of concessions granted to passengers of Indian Railways


(A) 75


(B) 53


(C) 85


(D) 100


16)What is the portal for online monitoring of Railway Budget announcements?


(A)e-Drishti


(B)e-Suvidha


(C)e-Samiksha


(D)e-Saksham


17) What is the sectoral share of Railways in the National Infrastructure Pipeline drawn up by the Govt. for 2020-2025?


(A)12%


(B)18%


(C)24%


(D)7%


18)As per the NITI Aayog, the upgradation and modernization of how many railway stations has been planned under the PPP format and commercial development lease for how many years?


(A)40 stations and 35 years


(B)50 stations and 60 years


(C)60 stations and 40 years


(D)45 stations and 35 years


19)Which refrigerant has been phased OUT in coach air conditioning in railway ACcoaches and replaced with a more environment friendly refrigant?


(A)Phased out RAC-20 HCFCIntroduced HFC –40


(B)Phased out R-22 [HCFC]Introduced HFC –407C


(C)Phased out R-32 [HCFC]Introduced HFC 409C


(D)None of the above


20)Which programme has helped railways install energy efficient LED bulbs also provided at subsidized cost to Railway employees?


(A)International Energy Efficiency Agency Programme (IEEAP)


(B)BEE Initiative for Energy Efficiency (BIEE)


(C)Energy Efficiency Service Agency (EESA)


(D)Domestic Efficient Lighting Programme (DELP)


21)Which out of the following is NOT an initiative or policy scheme to support the Central Govt. pensioners?


(A)Anubhav


(B)Sankalp


(C)Bhavishya


(D)Jeevan Deep


22) What is the full form of CPENGRAMS?


(A)Central Portal for Employee Engagement and Remote Applications for Management Support


(B)Central Portal for Engagement Recruitment and Auxiliary Management Service


(C)Central Pensioners Enrichment Group Activity and Maintenance Support


(D)Centralised Web Enabled Pension Grievance Redressal and Monitoring System


23)Indian Railways plans to become a Green Railway System by 2030 with Net Zero Carbon Emission. Towards this end, how much MW of energy through roof top solar panels is envisaged?


(A)500 Mega Watt


(B)250 Mega Watt


(C)350 Mega Watt


(D)300 Mega Watt


24) Which 3 states out of the following have maximum number of wind based power plants already commissioned by IR?


(A)Gujarat, Rajasthan and Andhra Pradesh


(B)Uttar Pradesh, Bihar and Kerala


(C)Rajasthan, Tamil Nadu and Maharashtra


(D)Rajasthan, Andhra Pradesh and Himachal Pradesh


25)What has been the achievement of IR in installation of Bio Toilets till 2020?


(A) Total of 69,000 coaches fitted with approx. 2,44,000 bio toilets


(B) Total of 40,000 coaches fitted with 1,50,000 bio toilets


(C) Total of 50,000 coaches fitted with 2,10,000 bio toilets


(D) Total of 45,000 coaches fitted with 2,00,000 bio toilets


26)Annual losses on account of subsidized tariffs for passenger / coaching services in IR are in the range of


(A)20,000 crores


(B)10,000 crores


(C)38,000 crores


(D)45,000 crores


27) The expected freight traffic forecast for both Eastern and Western DFC 20 years after commercial operation date would be in the range of _______ as per JIC Aestimates


(A)800 MT to 1000 MT


(B)300 MT to 350 MT


(C)550 MT to 600 MT


(D)900 MT to 950 MT


28)Which commodity was exported to Bangladesh for the first time during COVID lockdown period May to August 2020 by IR?


(A)Fertilizers


(B)Onions


(C)Fly Ash


(D)Iron Ore 12


29) As per new perspective planning to optimise passenger train operation from 2021, the trains would be operated on:


(A)A hub and spoke model


(B)Least cost model


(C)Semi high speed corridors movements


(D)Mixed traffic routes model


30) One of the major features of the new Arbitration and Conciliation Act (AmendmentBill) 2015 is:


(A)Setting up of Arbitration Council of India


(B)Doing away with the time period required to make an Award under the arbitration proceedings


(C)Hire international arbitrators to conduct Arbitration Proceedings


(D)None of the above


31)What is NOT a source of funding for IR to finance its capital expenditure projects?


(A) Extra budgetary resources


(B) Gross budgetary support


(C) Internal resources of IR


(D) Raising bonds and debentures from the stock market


32)For monitoring of high value projects of all Govt. departments including IR through MOSPI, the following two systems are in place


(A)UMID and SUVIDHA


(B)OCMS and IPMD


(C)e-SAMIKSHA and ARPAN


(D)CSP and PRAGATI


33)What value of capital expenditure projects are monitored by the Government of India through its project monitoring portal?


(A)Projects over Rs.100 crore


(B)Projects over Rs.500 crore


(C)Projects over Rs.150 crore


(D)Projects over Rs.1000 crore


34)The mainline electrified rail network in India uses:


(A) 25 KV AC


(B) 25 KV DC


(C) 20 KV AC


(D) 20 KV DC


35)Which out of the following statements is incorrect as in 2020?


(A) 58% of railway track is electrified


(B) 42% of railway track is yet to be electrified


(C) All railway tracks would be electrified by 2023


(D) All railway tracks would be electrified by 2030 13


36) What is the full form of GAAP?


(A)Government Approved and Authorised Procedures


(B)Government Audit and Accounting Protocol


(C)Generally Accepted Accounting Principles


(D)General Agreement for Assessment Period


37)Project Monitoring Group (PMG) set up by the Govt. of India in the Cabinet Secretariat is now merged with:


(A)Expenditure division of MoF


(B)Infrastructure division of MoF


(C)Ministry of Statistics and Programme Implementation (MoSPI)


(D)Department for Promotion of Industry and Internal Trade (DPIIT)

Answers

1. (A) It brought about uniformity in schedule of delegation of powers across Zonal Railways2


2, (B) 2017-183


3. (B) NIL4


4. (C) Rashtriya Rail Sanraksha Kosh5


5 (D)India, China, Russia and China


6 (C) RRSK Funds


7 (C) 5% to 15%


8 (B)          9 (A) 

10(A)        11(C)                        12(B) 

13(A)       14(D)                    15(D)


16(C) Till date 100 MW of solar plants have been implemented on roof tops of various buildings and includes 900 station buildings (PIB/2020 Report)


17(A) 18(B) 19(B) 20(D) 21(D) 22(D) 23(A) 24(C) 

25(A) 26(C) 27(C) 28(B) 29(A)30(A) 

31(D) 32(B) 33(C) 34(A) 35(D) 36(C) 37(D)

Q & A (New Pattern) - Bills of exchange For Departmental Exam Account & Finance

1)What is a Bills Receivable account?

A)Personal Account

B)Machinery Account

C)Real Account

D)Nominal Account

2)From the following information, find out who can draw the bill if Mr. A sold goods to B:

A)A will draw a bill on B

B)B will draw on A

C)Third party will draw a bill on A or B

D)None of the above

3)Who draws a Bill of Exchange?

A)Creditor

B)Debtor

C)Holder

D)None of the above

4)The person who draws a Bill of Exchange is known as

A)Drawer

B)Payee

C)Drawee

D)None of the above

5)What does ‘retiring a bill under rebate’ mean?

A)Making a payment of the bill before the due date

B)Dishonouring of a bill

C)Making a payment of the bill after the due date

D)All of the above

6)A bill of Exchange has __Parties

A)One

B)Two

C)Three

D)Four

7)Noting Charges are paid to the Notary by the

A)Drawer

B)Bank

C)Endorsee

D)Either of the above three parties

8)The payment of a Promissory Note made by its

A)Maker

B)Payee

C)Drawer

D)Bank

9)The purpose of accommodation bill is

A)To finance actual purchase or sale of goods

B)To facilitate trade transmission

C)When both parties are in need of funds

D)None of the above

10) Under which circumstances drawer and payee is same person:

A)When drawer discounted the bill with banker

B)When drawer endorse the bill to third party

C)When drawer held the bill till maturity

D)When drawee rejects to accept the bill

Answer key Bills of exchange

1C

2A

3C

4A

5A

6C

7D

8A

9C

10C

Q & A (New Pattern) - Concepts and conventions For Departmental Exam Account & Finance

1)Recognition of expenses in the same period as associated revenues is known as the


A)Book-Keeping principle


B)matching principle.


C)Cost Principle


D)None.


2)If a concern proposes to discontinue its business from March 2018 and decides to dispose of all its assets within a period of 4 months, The Balance Sheet as on


(A)Historical Cost


(B)Net realisable value


(C)Cost less Depreciation


(D)Cost price or Market value, whichever is lower.


3)A concept that a business enterprise will not be sold or liquidated in the near future is known as:


(A)Going Concern


(B)Economic Entity


(C)Monetary Unit


(D)None of the above


4)During the life-time of an entity accounting produce financial statements in accordance with which basic accounting concept:


(A)Conservation


(B)Matching


(C)Accounting Period


(D)None of the Above


5)The concept which requires that the same accounting method should be used from one accounting period to the next is called


(A)Conservatism


(B)Consistency


(C)Objectivity


(D)Matching


6)All of the following items are classified as fundamental accounting assumptions except


A)Consistency


B)Business Entity


C)Going concern


D)Accrual


7)The determination of expenses for an accounting period is based on the principle of


A)Objectivity


B)Materiality


C)Matching


D)Periodicity.


8)A change in accounting policy is justified


(A) To comply with accounting


(B) To ensure more appropriate presentation of the financial statement of the enterprise.


(C) To comply with the law


(D) All of the above


9)Selection of an inappropriate accounting policy decision may


(A)Overstate the performance and financial position of a business entity


(B)Understate/ overstate the performance and financial position of a business entity


(C)Overstate the performance of a business entity


(D)Understate financial position of a business entity.


10)Accounting polices refer to specific accounting


(A) principles


(B) Methods of applying those principles.


(C) Both (a) and (b) .


(D) None of the above.


11)All of the following are valuation principles except


(A) Historical cost.


(B) Present Value


(C) Future value


(D) Realisable value


12)Nandini enterprises follows the Written Down Value method of depreciating machinery year after year due to


A)Comparability


B)Convenience


C)Consistency


D)All of them.


13)Mr. Raj purchased goods costing 1,50,000 and sold 4/5th of the goods amounting to Rs.1,80,000. He met expenses amounting to Rs.25,000 during the year, 2018. He made a net profit as Rs.35,000. Which of the accounting concept was followed by him?


A)Entity


B)Periodicity


C)Matching


D)Conservatism.


14) Economic life of an enterprise is split into period interval as per


A)Entity


B)Matching


C)Accounting Period


D)Accrual


15)It is essential to standardize a company’s accounting principles and policies in order to ensure


A)Transparency


B)Consistency


C)Comparability


D)All of the above.


16) What is the Accounting Standard for Depreciation?


A)AS4


B)AS6


C)AS8


D)AS10


Answer key


Concepts and conventions


1B


2B


3A


4C


5B


6B


7D


8D


9B


10C


11C


12C


13C


14C


15D


16D

Q & A (New Pattern) - Accounting process For Departmental Exam Account & Finance

1)Following are the users of accounting information.


A)Creditors


B)Lenders
C)Customers


D)All the above.


2)‘For each and Every Debit there must be a corresponding Credit’ is the principal of____


A)Going Concern


B)Real Account.


C)Book-Keeping


D)Double Entry


3)The balance of the petty cash is


(A) An expense


(B) An income


(C) An asset


(D) A liability


4)Fixed Assets are


(A)Kept in the business for use over long time for earning income


(B)Meant for resale


(C)Meant for conversion


(D)All of the above


5)The term ‘Debtor’ means


A)A person who owes something to the business


B)A person to whom something is owing by the business


C)Both of the above.


D)None of the above.


6)A trial balance will not balance if


(A)Correct Journal entry is posted twice


(B)The purchase on credit basis is debited to purchases and credited to cash


(C)Rs.1,000 cash payment to creditors is debited to creditors for Rs.100 and credited to cash Rs.1,000.


(D)None of the above.


7)After the preparation of ledgers , the next step is preparation of


(A) Trading Account


(B) Trial Balance


(C) Profit and Loss account


(D) Balance Sheet 8)After preparing the trial balance the accountant finds that the total of debit side is short by Rs.3,000. The difference will be


(A)Credited to suspense account


(B)Debited to suspense account


(C)Adjusted to any of the debit balance account


(D)Adjusted to any of the credit balance. 19


9)Rs.20,000 paid as wages for erecting a machine should debited to


A)Repair account


B)Capital account


C)Machine account


D)Furniture account.


10) Sales of office furniture should be credited to


A)Sales account


B)Furniture Account


C)Purchases account


D)Cash account


11) Rent paid to landlord is credited to


A)Landlord’s a/c


B)Bad debts a/c


C)Cash a/c


D)None


12) Which of the following statements is true?


A)The term “ financial Statements includes both analysis and Interpretation”


B)On the basis of modus operandi, financial analysis can be classified as external analysis and internal analysis.


C)Vertical analysis refers to the comparison of financial data of a company for several years.


D)Horizontal analysis is also known as “static analysis”


13) Accounting provides information on


A)Cost and income for managers


B)Company’s tax liability for a particular year


C)Financial conditions of an institution


D)All of the above.


14) If the assets of a business are Rs.3,00,000 and its capital Rs.1,00,000, the liabilities of this business are


A)4,00,000


B)2,00,000


C)1,00,000


D)3,00,000


15) Effect of machinery purchased for cash


A)Decrease in total assets


B)Increase in total assets.


C)No change in the total assets.


D)Decrease in total liabilities.


16) Recording of outstanding salary is based on


A)Accrual concept


B)Going concern concept


C)Cost concept


D)Business entity concept 20


17) Goodwill Account is a


A)Nominal Account


B)Personal Account


C)Real Account


D)None


18)A withdrawal of goods from business by the proprietor should be credited to which Account.


A)Cash Account


B)Proprietor Account


C)Capital Account


D)Purchases Account


19) What checks the arithmetical accuracy of ledger accounts?


A)Ledger


B)Account


C)Trial Balance


D)Final Accounts.


20) The process of transferring debit and credit items from a journal to their respective Accounts in the ledger is termed as


A)Ledger Posting


B)Journalising


C)Balancing


D)Accounting.


21) Cash book is journal as well as


A)Cash Account


B)Ledger


C)Journal


D)Both cash and journal.


22) Financial position of a business is ascertained on the basis of:


A)Records prepared under book-keeping process.


B)Trial Balance


C)Accounting reports


D)None of the above


23)If the Assets of a business on 31St March 2020 are worth Rs.5,00,000 and its Capital Rs.3,50,000, its Liabilities on that date shall be


A)Rs.8,50,000


B)Rs.1,50,000


C)Rs.3,50,000


D)Rs.5,00,000


24) Classify the money spent of Rs.1,00,000 as travelling expenses of the Member Mechanical on trips abroad for purchase of capital asset is


(A)Capital expenditure


(B)Revenue expenditure


(C)Deferred Revenue Expenditure


(D)None of the above 21


25)If an individual asset is increased, there will be a corresponding


(A) Increase of another asset or increase of capital


(B) Decrease of another asset or increase of liability


(C) Decrease of specific liability or decrease of capital


(D) Increase in drawings and liability


26)Contingent Asset usually arises from unplanned or unexpected events that give rise to:


(A)The possibility of an inflow of economic benefits to the business entity


(B)The possibility of an outflow of economic benefits to the business entity


(C)Either a) or b)


(D)None of the above


27) Balance of indirect expenses accounts are transferred to


A)Trading Account


B)Profit & Loss account


C)Balance Sheet


D)Trial Balance.


29)A decrease in the provision for doubtful debts would result in:


(A) An increase in liabilities


(B) A decrease in working capital


(C) A decrease in net profits


(D) An increase in Net profits




30)The Debts written off as bad, if recovered subsequently are


A)Credited to Bad Debts recovered account


B)Credited to Debtors Account


C)Debited to Profit and Loss Account


D)None of the above


31) Provision for Bad and Doubtful Debts is treated in the balance sheet as


A)Added to Debtors


B)Deducted from Creditors


C)Added to Creditors


D)Deducted from Debtors


32) Identified and measured economic events should be recorded in


A)chronological order B)Alphabetical order


C)Both D)None .


33) A Suspense Account balance is


A)Debit


B)Credit


C)Debit or credit


D)None of them


34) When a debtor pays her dues


A)Assets side of Balance sheet will increase


B)Assets side of Balance Sheet will decrease


C)Liabilities side of Balance Sheet will increase


D)There will be no change in total assets or total liabilities


35) Claim admitted in respect of stock destroyed by fire will be credited to


A)Profit and Loss Account


B)Purchases Account


C)Loss Account due to fire


D)Balance sheet.


36) Patents, Copyrights and Trademarks are


A)Current assets


B)Fixed assets


C)Intangible assets


D)Investments.


37) Balance sheets are prepared


A)Daily


B)Weekly


C)Monthly


D)Annually.


38) Book-Keeping is mainly concerned with


A)recording of financial data.


B)Designing the systems of classifying and summarising the recorded data.


C)Interpreting the data for internal and external users.


D)All of the above.


39)Preparation of a Trial balance is for:


(A) Locating Errors


(B) Locating errors of principles


(C) The trial balance to agree.


(D) None of the above


40)Cash Book which is maintained to record small expenses is called.


(A) Simple Cash book


(B) petty cash book.


(C) Two column Cash Book.


(D) Triple Column Cash Book.


41)What is that maintained for known liabilities


(A)Provision


(B)Reserve


(C)Capital Reserve


(D)Reserve Fund


42)Closing, Rectification and Adjustment entries are made in which subsidiary Book.


(A)Cash Book


(B)Adjustment Book


(C)Journal Proper


(D)Ledger.


43)Journal Proper records


(A) All transactions


(B) All cash Transactions


(C) All transactions not recorded in any subsidiary books


(D) All credit Transactions


44)Real Account records


(A)Dealings with creditors or debtors


(B)Dealings in commodities


(C)Gains and losses


(D)All of the above.


45)The following is a statement showing the financial status of the company at any given time


(A)Trading account


(B)Profit and Loss statements


(C)Balance sheet


(D)Cash book.


46)Which of the following statements is correct?


(A) Goodwill is a fictitious asset


(B) Patents are tangible asset


(C) Debtors are current liability


(D) Land is a Current asset.


47)After sale of goods worth Rs.20,000 on March31,2020, a proprietor is left with closing stock of Rs. 10,000. This is


(A)An event


(B)A transaction


(C)A transaction as well as event


(D)neither a transaction or Event.


48)Assets are held in business for the purpose of


(A) Resale


(B) Conversion into cash


(C) Earning revenue


(D) None of them.


49)General Reserve is treated in Balance sheet as


(A) Asset


(B) Liability


(C) Outstanding Income


(D) Both as an Asset and a Liability.


50)Identified & Measured economic events should be recorded in


(A) Chronological order


(B) Alphabetical order


(C) Both


(D) None . 24


51)A Suspense Accounts shows this balance


(A) Debit


(B) Credit


(C) Debit or credit


(D) None of them


52)A Profit on the disposal of a fixed asset can also be described as an


(A) Over provision for depreciation on the asset


(B) Increase in Fixed Assets on the Balance Sheet


(C) Under provision for depreciation on the asset


(D) None of the above


53)Capital is the difference between


(A)Income and expenses


(B)Sales and cost of goods sold


(C)Assets and Liabilities


(D)None of the above


54)The following is not shown in the Balance Sheet


(A) Fixed deposit


(B) Opening stock


(C) Mortgage on land


(D) Bank overdraft.


55)Disagreement of a trial balance indicates the following error


(A) Error of Omission


(B) Error of Commission


(C) Duplicating error


(D) One sided Error.


56)Which of the following Statements is false


(A)Assets will be equal to capital, if there are no liabilities


(B)Basic Concepts bring uniformity in Accounting


(C)Income = Revenue- Expenses


(D)According to business entity concept the existence of business and proprietors is one and the same.


57) Which of the following Statements is false


(A)Assets will be equal to capital, if there are no liabilities


(B)Basic Concepts bring uniformity in Accounting


(C)Income = Revenue- Expenses


(D)According to business entity concept the existence of business and proprietors is one and the same.

Answer key Accounting process

1D
2D
3C
4A
5A
6C
7B
8B
9C
10B
11C
12A
13D
14B
15C
16A
17C
18D
19C
20A
21B
22C
23B
24A
25B
26A
27B
28D
29D
30A
31D
32A
33C
34D
35B
36C
37D
38A
39C
40B
41A
42C
43C
44B
45C
46A
47A
48C
49B
50A
51C
52A
53C
55B
56D
57D

Q & A (New Pattern) - Management Accounting For Departmental Exam Account & Finance

 

Q & A (New Pattern) - Railways financial overview For Departmental Exam Account

1) How many Shramik Special trains have been arranged by Indian Railways till the first week of June 2020, to ferry the migrants due to Covid-19?


(A)Less than 2000 trains

(B)Between 3000 and 4000 trains

(C)Between 100 and 200 trains

(D)Between 5000 and 6000 trains


Answer - (A)Less than 2000 trains


2)The commodities largely moved by Railways during the lockdown period were:


(A) POL, cement and iron ore


(B) Coal, fly ash and steel


(C) Foodgrains, salt, sugar, milk van


(D) None of the above


Answer - (C) Foodgrains, salt, sugar, milk van




3)For better monitoring of big Railway projects, they have been categorized as:


(A) Super critical, critical and throughput enhancement projects


(B) High speed, safety and heavy haul projects


(C) Projects with Rs.500 crores each and Rs.1000 crore each


(D) Out of turn projects, Urgency based projects and Safety works projects


Answer - (A) Super critical, critical and throughput enhancement projects


4)The Gross Traffic Receipts as per B.E. of 2020-21 are:


(A)2,05,800 crores


(B)1,88,800 crores


(C)2,35,000 crores


(D)2,25,613 crores


Answer - (D)2,25,613 crores


5)The Net Revenue projection for 2020-21 is:


(A) Rs. 9,000 crores


(B) Rs. 19,000 crores


(C) Rs. 6,500 crores


(D) Rs. 15,000 crores

Answer - (C) Rs. 6,500 crores


6)Choose the right option in terms of top 3 railway freight commodities loaded (in MTs)


(A)Coal, Iron ore, Cement


(B)Coal, Fertilizers and Foodgrains


(C)Coal, Foodgrains and Pig iron


Answer - (A)Coal, Iron ore, Cement




7)Which of the following is NOT a Reserve Fund of Indian Railways as in 2019-20:


(A) Capital Fund


(B) Development Fund


(C) Revenue Reserve Fund


(D) RRSK


Answer - (C) Revenue Reserve Fund




8)Average lead in terms of kms for revenue earning freight of Indian Railways is:


(A) Between 750 and 1000 kms


(B) Between 250 and 550 kms


(C) Between 1000 and 1200 kms


(D) Between 500 to 600 kms 6


Answer - (D) Between 500 to 600 kms 6




9)Electrified Route km on Indian Railways until March 2020 is:


(A) Approx. 40,000 rkms


(B) Approx. 29,000 rkms


(C) Approx. 38,000 rkms


(D) Approx. 50,000 rkms


Answer - (A) Approx. 40,000 rkms


10)Capital at charge of Indian Railways wiped out w.e.f. 2016-17 on which dividend was payable:


(A)87,655 crores


(B)224,685 crores


(C)197992 crores


(D)122772 crores


Answer - (B)224,685 crores




11)Which of the following is NOT owned by Indian Railways?


(A) Delhi Metro


(B) Kolkata Metro


(C) Konkan Railway Corporation Ltd.


(D) None of the above


Answer - (A) Delhi Metro




12)The Operating Ratio for 2020-21 has been projected at:


(A) 98%


(B) 96%


(C) 94%


(D) 95%


Answer - (B) 96%




13) In terms of the Route kms, India is:


(A)2nd largest rail system in the world


(B)3rd largest rail system in the world


(C)4th largest rail system in the world


(D)The largest rail system in the world


Answer - (C)4th largest rail system in the world




14) After the merger of the Railway Budget, what has been the major implication:


(A)Railways no longer has to prepare its Annual Statement of Receipts & Expenditure


(B)The Finance Ministry prepares the Railway Budget


(C)Railways no longer have to pay dividend to the Government


(D)None of the above


Answer - (C)Railways no longer have to pay dividend to the Government

15)Vande Bharat Express was manufactured by:

(A) DLW, Varanasi


(B) RCF, Kapurthala


(C) ICF, Chennai


(D) RWF, Bengaluru


Answer - (C) ICF, Chennai