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CA Final Overview of Audit of Public Sector Undertakings — practice questions — page 2

Explore 100 free Overview of Audit of Public Sector Undertakings questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

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Overview of Audit of Public Sector Undertakings questions and exercises with answers

Showing questions 31–60 of 100.

What is the maximum membership of the Public Accounts Committee?Read the answer and worked solution →How many Lok Sabha members are elected to the PAC?Read the answer and worked solution →What is the term of office of a PAC member?Read the answer and worked solution →PAC members are elected from their Houses by which method?Read the answer and worked solution →Who appoints the chairperson of the PAC?Read the answer and worked solution →The PAC was first conceived in which year, after the Montagu-Chelmsford Reforms?Read the answer and worked solution →Since 1967 the PAC chairperson has been selected from which group?Read the answer and worked solution →Which persons are not allowed to be members of the PAC?Read the answer and worked solution →The PAC checks that granted money was spent in what way?Read the answer and worked solution →What does the PAC primarily examine after it is laid in Parliament?Read the answer and worked solution →Before 1950 who chaired the Public Accounts Committee?Read the answer and worked solution →Seven Rajya Sabha members have been elected to the PAC from which year?Read the answer and worked solution →Which of these is among the types of audit the C&AG conducts?Read the answer and worked solution →The CAG report on the 2G spectrum case stated a loss of how much?Read the answer and worked solution →The CAG audits P&L accounts and balance sheets kept where?Read the answer and worked solution →The CAG's oath says duties will be performed without fear or favour, affection or what?Read the answer and worked solution →At independence in 1947, how many state-owned Indian Ordnance Factories existed?Read the answer and worked solution →At what minimum government shareholding does the CAG conduct supplementary audit of a government company?Read the answer and worked solution →A government enterprise with at least 51% state ownership is called aRead the answer and worked solution →Which Act of 1971 lays down the duties, powers and service conditions of the CAG?Read the answer and worked solution →In which year was the CAG relieved of accounting functions, leaving only audit?Read the answer and worked solution →The CAG can be removed from office only on an address fromRead the answer and worked solution →The CAG vacates office on reaching what age, or after six years, whichever is earlier?Read the answer and worked solution →After ceasing to hold office, the CAG isRead the answer and worked solution →Which CAG documents does the PAC discuss once laid before the legislature?Read the answer and worked solution →Which of these is audited by the CAG as per the provisions of the Companies Act, 2013?Read the answer and worked solution →CAG audit of rural and urban local bodies is entrusted underRead the answer and worked solution →A body not mainly funded from the Consolidated Fund is audited by CAG ifRead the answer and worked solution →In a notable ruling, the Supreme Court held that the CAG could auditRead the answer and worked solution →Whose tenure as CAG saw reports on the 2G and Commonwealth Games scams?Read the answer and worked solution →

Worked practice questions

What is the maximum membership of the Public Accounts Committee?

  1. Fifteen
  2. Twenty-two
  3. Thirty
  4. Forty-five
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Correct answer: B. Twenty-two

The PAC has up to 22 members, 15 from Lok Sabha and up to 7 from Rajya Sabha.

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How many Lok Sabha members are elected to the PAC?

  1. Seven
  2. Ten
  3. Fifteen
  4. Twenty
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Correct answer: C. Fifteen

Fifteen members are elected by Lok Sabha and not more than seven by Rajya Sabha.

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What is the term of office of a PAC member?

  1. One year
  2. Two years
  3. Three years
  4. Five years
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Correct answer: A. One year

Members are elected every year, so their term is one year.

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