New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Consider the following about the Public Account:

    I. Provident Funds

    II. Small Savings collections

    III. Receipts of Government subsidy

    Which of the above is/are examples of moneys kept in the Public Account?

    A I only Correct Answer Incorrect Answer
    B II only Correct Answer Incorrect Answer
    C III only Correct Answer Incorrect Answer
    D I and II both Correct Answer Incorrect Answer
    E II and III both Correct Answer Incorrect Answer

    Solution

    The Public Account draws its existence from Article 266 of the Constitution of India. Provident Funds, Small Savings collections, receipts of Government set apart for expenditure on specific objects such as road development, primary education, other Reserve/Special Funds etc., are examples of moneys kept in the Public Account.

    Practice Next