Day1 Question and Answers

PRESIDENT OF INDIA - Ram nath Kovind
PRIME MINISTER OF INDIA- narendra modi

MINISTER OF RAILWAYS – piyush goyal
MINISTER OF STATE FOR RAILWAYS- Angadi, Shri Suresh Channabasappa
Accounts introduction
1. Accounts Deptt. on IR is headed by FINANCIAL COMMISSIONER

2. CAG authority for conducting audit of the accounts of the union, states and union
territories.3. 3.The Railway Budget was separated from the General Budget on the
Recommendation
of the Acworth committee.
4. Two purposes behind appointment of FC were economy in the expenditure of public
moneys and coordination of financial policy of IR
5. In case of disagreement between FC and the Board Members/CRB,
FC has right to refer case to FINANCE MINISTER
6. Zonal/UP accounts Deptt. is headed by FA&CAO
7. FA & CAO MEANS FINANCIAL ADVISER & CHIEF ACCOUNTS OFFICER
8. Store accounts and stock keeping is inspected by ISAs AND SVs
9. Account inspection report part I is prepared in THREE copies.
10. CAG means COMPTROLLER AND AUDITOR GENERAL
11. CAG derives his powers from CONSTITUTION OF INDIA (Article 149-151)
12. The head of Zonal audit is PRINCIPAL DIRECTOR
13. Powers delegated to subordinate officials by General Manager are called schedule of
powers
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. Expenditure of Railway Board is charged to Demand No.1 and of Centralized training

institute as charged to Demand No 2
2. The money for appropriation to depreciation reserve fund is charged to Demand No
14 as decided by the Railway Board at the recommendation of Railway Conventional
Committee.
3. The expenses of retirement benefits and DCRG are charged to Demand No.13
4. The two broad categories of expenditure are Revenue and Works expenditure. There
are 4 (demand no 4-7) numbers of demands meant for repairs and maintenance out
of 15 Revenue Demands.
5. There are 3(demand no.8-10) nos. of demand pertaining to Operating Expenses
6. Railway budget is presented to the parliament in the form of 16 Demands for Grants
7. The amount for the expenditure sanctioned by the parliament is called VOTED
expenditure
8. The transfer of funds originally sanctioned for expenditure on a specific object to
supplement funds sanctioned for another object is called re-appropriation.
9. Charged expenditure requires the Sanction of the President without the budget
being submitted for the vote of Parliament
10. The second review is conducted in the month of November-December each year,
which is known as revised estimate for the current financial year and budget
estimates for the ensuing financial year
11. The third review is conducted in the month of February each year and is known as
Final Modification.
12. re-appropriations from one subhead of demand to another subhead of same
demand can be done by GENERAL MANAGER
13. Arrange the following budgeting stages in the increasing chronological order: Final
modification, Telegraphic Modification, Revised Estimate, August review
Ans: August review, Revised Estimate, Final modification, Telegraphic Modification.
Earnings and Expenditure
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
1. WHAT ARE CANNONS OF FINANCIAL PROPRIETY?

2. WRITE A BREIF NOTE ON SCHEDULE OF POWERS?
3. WHAT ARE MANY FUCTIONS OF FA &CAO ?
4. Define budget ? what are the main objective of budgeting?
5. Write short note on voted expenditure and charged expenditure?
6. Write a short note on demands for grants?
7. List various types of Railway funds?
8. Write a brief note on various funds maintained by central government of India?
9. Write various earnings and expenditures of Indian Railways?
10. Explain different types of works programme that are exercised in railways?
11. Write a short note on M.Book? what are do's and dont's to be followed in managing
the M.B?
STORES
1. Non stock indents above Rs 10 lakhs have to be approved by PHOD/CHOD of

department.
2. Which among following is not a material inspecting agency:
a) RDSO (b) DOI c) IRTS (d) RITES (c)IRTS
3. Issue and recoupment schedule for imprest stores is prepared in Form No S1830
4. Form number S1313 is used for requisition-cum-issue note for stock item.
5. Gate Pass is prepared in two numbers of copies.
6. In which form, Materials not required are returned to the nominated stores depot as
per stores code ?
(a) S – 1539 (b) S-1739 (c) S-1549 (d) SS-11
7. What is the frequency of verification of Stores with Imprest Holders?
(a) once in 1 year (b) once in 2 year (c) once in 3 year (d) once in 6 month
8. What is the frequency of verification of Tools & Plant items by Accounts? Once in 3
year
9. In ABC analysis, which items are given more attention from inventory control point of
view? (a) A Category (b)B Category (c) C Category (d)Equal attention to all
10. Which of the following analysis gives more attention to the service level- (a) ABC
Analysis (b) VED Analysis (c) FSN Analysis (d) XYZ Analysis
11. Surplus items are- (a) Item not moved for 12 months
(b)Item not moved for 24 months
(c) Item having more than 12 month Stock
(d) None of these
12. First two digits in any price list No represent:
(a) Part Number (b) Specification Number (c) Drawing Number (d) Group Number
13. Signals & Telecommunication Stores are dealt in groups:
(a) 50-59 (b) 40- 49 (c) 70-79 (d) 10-19
14. Unit code is in 2 digits.
15. Custody stores are the stores –
(a) Which are kept under the custody of indentor

(b) These are charged off stores but kept under the custody of stores depot
awaiting future use.
(c) Custody stores are non stock items which are surplus with the user
(d) Custody stores are imprest stock items
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
17. It is proposed to purchase an item of a specific brand only. For this-
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) Single firm only C) RDSO approved firms only

B) Approved firms only D) None of the above
19. Principal Head of Stores Department on a Zonal Railway is –
A) Chief Materials manager B) Chief Controller of Stores

C) Controller of Stores D) Chief Controller of Stores and Purchases
20. Inactive items are those stock items, stock of which
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 –
A) Ordinary Stock Item B) Emergency stock item

C) Regular item D) Non- stock item
22. In a VED analysis "V" stands for –
A) Vague items B) Very costly items

C) Vital item D) Variety of items
23. In ABC analysis of items "A" category items represent
A) Low consumption value items B) Important items

C) High Annual consumption value items D) High rate items
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 –
A) Dead Surplus C) Custody stores

B) Movable surplus D) Imprest stores
25. In a PL No. the subgroup to which the item belongs to is represented by –
A) First two digits B) 3rd and 4th digits

C) 5th and 6th digits D) 2nd and 3rd digits
26. In Indian Railways 'A' category items represent what percentage of total consumption
value?
a) 50 % b) 90% c) 65% d) 70%
27. Stores Directorate in Rly Board is under
A. Member ( RS ) B. Member ( Elect )

C. Member ( Staff ) D. Financial Commisioner
ISO - International Organization for Standardization

BIS - Bureau of Indian Standards
QAP – Quality Assurance Plan
DQA – Directorate of Quality Assurance
FIFO – First in first out.
LAW - List of Approved Works.
GSM - Grammage per square meter.
TQM - Total Quality Management
PAC- Proprietary Article Certificate
DGS&D- Director General of supplies and disposal.
PAC - proprietary article certificate
LAR - last accepted rate
LP - local purchase
EMD - earnest money deposit - 2% of the value of work
SD - security deposit - 5% of the value of work
PG - performance guarantee (bank guarantee) - 5% of the value
DMTR - daily materials transaction register
DSR - dead stock register
SoP - schedule of powers
LoA - letter of acceptance
PO - purchase order
NEFT - national electronic fund transfer
MB - measurement book
1. State the objectives of Stores department?

2. Enlist different agencies of procurement?
3. What is a PAC and explain in detail?
4. What are the functions of materials Management department on Railways ?
5. What is the difference between ordinary stores & emergency stores?
6. Describe briefly different types of supply contracts?
7. Describe various methods of Inventory control in Indian Rlys.
8. Write the procedure for procurement of materials through non-stock indent?
9. Write a short note on AAC, Gate pass, P.O, P.L.No, challan, adjustment memo?
10. What are the various duties of Store custodian?
11. What is meant by scarp? How it has to return to stores for proper realization to
revenue?

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PRESIDENT OF INDIA - Ram nath Kovind

PRIME MINISTER OF INDIA- narendra modi

1. Accounts Deptt. on IR is headed by FINANCIAL COMMISSIONER

1. Expenditure of Railway Board is charged to Demand No.1 and of Centralized training

Earnings and Expenditure

1. WHAT ARE CANNONS OF FINANCIAL PROPRIETY?

1. Non stock indents above Rs 10 lakhs have to be approved by PHOD/CHOD of

15. Custody stores are the stores –

(a) Which are kept under the custody of indentor

17. It is proposed to purchase an item of a specific brand only. For this-

A) Single firm only C) RDSO approved firms only

19. Principal Head of Stores Department on a Zonal Railway is –

A) Chief Materials manager B) Chief Controller of Stores

20. Inactive items are those stock items, stock of which

A) Ordinary Stock Item B) Emergency stock item

22. In a VED analysis "V" stands for –

A) Vague items B) Very costly items

23. In ABC analysis of items "A" category items represent

A) Low consumption value items B) Important items

A) Dead Surplus C) Custody stores

A) First two digits B) 3rd and 4th digits

a) 50 % b) 90% c) 65% d) 70%

27. Stores Directorate in Rly Board is under

A. Member ( RS ) B. Member ( Elect )

ISO - International Organization for Standardization

1. State the objectives of Stores department?

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