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Day1 Question and Answers
Day1 Question and Answers
Accounts introduction
FUNDS
1. Amount cannot be drawn from the Fund without authorization of the Parliament is
Consolidated Fund of india.
2. Contingency Fund is used to meet urgent unforeseen expenditure and should recoup
back as soon as parliament session starts
3. The fund A.C.S.P.A.F stands for Accident Compensation, Safety and Passenger
amenities Fund
4. OLWR stands for open line works revenue.
5. DEPRECIATION RESERVE FUND is created and used to meet the cost of replacement
of old or depreciated assets which the normal life is over, due to wear and tear and
requires replacement
6. SAFETY FUND is created partly by appropriation from excess of revenue receipts and
by transfer of funds by Central Government from Central Road fund.
BUDGET
1. There are three sources of earning in Railways, denoted by X, Y and Z. X stands for
Coaching earnings, Y stands for Goods earnings and Z for Sundry Earnings.
2. The Public Undertaking organization IRFC stands for Indian Railway Finance
Corporation Limited
3. During Aug-Sep every year, the works, machinery and plant programme to be
executed during the next following financial year is suggested by the individual
Railways to Railway Board in the form of preliminary works programme(PWP)
4. If the dispute was not settled between contractor and railway officials , then as per
IRS conditions of contract, it is to be referred to a sole arbitrator appointed by
GENERAL MANAGER
5. Measurement Book has to be preserved at divisional office for more than 10 Years
STORES
16. Disposal of scrap may be done by (a) Auction (b) Sale by tender (c) Sale to other
Govt. department and undertaking (d) All above
A) Specification should be prepared in such a way that only product of that make meets
the specification
B) A PAC should be submitted along with the requisition
C) A Sample should be submitted along with the requisition
D) Requisition should be signed by an SAG Officer
18. Proprietary Article certificate is to be issued for the item required to be purchased from -
A) is unserviceable
B) more than 3 months old
C) has not been issued to any user for past 12 months
D) is more than the requirement of next 24 months
21. An item having regular turnover caused by constant demand will be known as –
24. At the time of review, it is revealed that an item is not issued to any user for past 26
months but the item is likely be issued in next 22 months. This item will be classified as –
26. In Indian Railways 'A' category items represent what percentage of total consumption
value?