11. Consolidated Fund of India is created under
A. Article 262
B. Article 264
C. Article 266
D. Article 268
[toggle] Answer – C
Explanation: Consolidated Fund of India is the most important of all government accounts. Revenues received by the government and expenses made by it, excluding the exceptional items, are part of the Consolidated Fund. The fund comes under Article 266(1).
All revenues received by the government through direct tax and indirect taxes(Now GST), money was borrowed and the receipts from the loans given by the government flow into the consolidated fund of India. [/toggle]
12. The Comptroller and Auditor General (CAG) does not audit the receipts and expenditure of
A. Municipal Undertakings
B. State Governments
C. Government Companies
D. Union Government
[toggle] Answer – A [/toggle]
13. The Central Audit Machinery is headed by the
A. Union Finance Minister
B. Union Finance Secretary
C. Comptroller and Auditor General of India
D. Accountant General, Central Revenues
[toggle] Answer – C[/toggle]
14. Who among the following dignitaries cannot be impeached?
A. President
B. Vice-President
C. Judges of the Supreme Court
D. Comptroller and Auditor General of India
[toggle] Answer – B [/toggle]
15. Part V of the Constitution deals with:
I. Union Executive
II. Parliament
III.Supreme Court and High Courts
IV. Comptroller and Auditor-General
A. I and II
B. I, II and III
C. I only
D. I, II and IV
[toggle] Answer – D [/toggle]
16. Parliament’s expenditure is controlled by :
A. President
B. Finance Commission
C. National Development Council
D. Comptroller and Auditor General
[toggle] Answer – D [/toggle]
17. Whose function is it to see that no money is spent out of the Consolidated Fund of a State without the authority of the legislature?
A. Public Accounts Committee
B. Comptroller and Auditor-General of India
C. Finance Commission
D. None of the above
[toggle] Answer – B [/toggle]
18. The functions of the Comptroller and Auditor General of India include auditing and reporting on the receipts and expenditure of:
A. Union Government only
B. State Government only
C. Union and State Governments
D. Union and State Governments and companies substantially financed by both
[toggle] Answer – C[/toggle]
19. Which of the following are true regarding the Comptroller and Auditor General of India?
I. The office of the CAG has been created by the Constitution.
II. He holds office for a term of five years or till the age of 60 years, whichever is earlier.
III. He can be removed from office only by impeachment.
IV. He has to audit and report on all expenditure from the Consolidated Fund of India and of
each State and Union Territory having a Legislative Assembly and see whether expenditure has been in accordance with the law.
A. I, II, III and IV
B. I, III and IV
C. II and III
D. III and IV
[toggle] Answer – B [/toggle]
20. The Comptroller and Auditor General can be removed from office:
A. in the same way as the President can be removed
B. in the same manner as that prescribed for the removal of a Supreme Court Judge
C. by the President on a report by the Supreme Court
D. in none of the above ways
[toggle] Answer – B [/toggle]