Knowledge Booster: EXPENDITURE_L1 Edition (27 Mar 2026)
Welcome to today's EXPENDITURE_L1 Knowledge Booster! We've handpicked 10 essential questions from our database to help you sharpen your skills. Dive in and test your knowledge!
Q1. PG Shall submit in __________ within 30 days from LOA Issued date पीजी को एलओए जारी होने की तारीख से 30 दिनों के भीतर __________ में जमा करना होगा
- A) 2 separate parts of 2.5 % each
- B) 5 separate parts of 1 % each
- C) 1 part of 5 %
- D) 4 separate parts of 1.25 % each
Correct Answer: 4 separate parts of 1.25 % each
Explanation: Explanation : Forfeit of PG पीजी का 25% जब्त है - यदि लगाया गया जुर्माना लागू अधिकतम जुर्माने के 50% से अधिक है (अनुबंध के संशोधित मूल्य के अनुसार)
Q2. What happens if a contract lacks clarity and certainty in its terms? यदि किसी अनुबंध की शर्तों में स्पष्टता और निश्चितता का अभाव हो तो क्या होगा?
- A) It is valid
- B) It is void
- C) It is legal
- D) It is enforceable
Correct Answer: It is void
Explanation: Explanation : Contracts must have clear and definite terms. Unclear contracts are void due to uncertainty.
Q3. In case the contractor fails to submit the requisite PG even after ______ from the date of issue of LOA, the Service contract shall be terminated duly forfeiting EMD and other dues, if any payable against that contract. यदि ठेकेदार एलओए जारी होने की तारीख से ______ के बाद भी अपेक्षित पीजी जमा करने में विफल रहता है, तो ईएमडी और अन्य देय राशि, यदि उस अनुबंध के विरुद्ध देय हो, को जब्त करते हुए सेवा अनुबंध को समाप्त कर दिया जाएगा।
- A) 30 days
- B) 45 days
- C) 60 days
- D) 90 days
Correct Answer: 90 days
Explanation: Explanation : PG - Performance Guarantee: A. 5% of the Contract Value B. 4 separate parts i.e., each 1.25 % of the Contract Value C. Due period: 30 days from the LOA D. 60 days - If the Contractor fails to furnish after 60 days from the LOA, a notice will be served to the Contractor to pay the same within 90 days from LOA E. 60th day is Bank Holiday or office closure, the next working should be considered as the last day for submission of PG . F. 15% - Penal Interest - 31st day to the Day of submitting PG The consequences of failure to submission of PG within 90 days are:
Q4. In Appropriation Accounts variation should be explained between _____________ ( Sub Head wise)विनियोग खातों में अंतर को स्पष्ट किया जाना चाहिएविनियोग खातों में भिन्नता को _____________ (उपशीर्ष के अनुसार) के बीच स्पष्ट किया जाना चाहिए
- A) actual expenditure and sanctioned grants/appropriations
- B) Original Grant plus Supplementary Grant and Actual Expenditure
- C) Final Grant and Actual Expenditure
- D) Supplementary Grant and Actual Expenditure
Correct Answer: actual expenditure and sanctioned grants/appropriations
Explanation: Explanation : Explanations for Variations between: FG - Final Grant & Actuals - At Railway Board level or Zonal Railway level
Q5. Immovable office Furniture is procured through ____________________ (CBT AFA 70% 2023 SUPPLEMENTARY QUESTION PAPER) अचल कार्यालय फर्नीचर की खरीद ____________________ के माध्यम से की जाती है (CBT AFA 70% 2023 पूरक प्रश्न पत्र)
- A) Rolling Stock Programme
- B) M&P Programme
- C) Tools & Plant
- D) None of these
Correct Answer: Tools & Plant
Explanation: Explanation : Answer as per Official Key is Official Key is Rolling Stock Programme. But it is incorrect. T&P - Tools & Plant is the correct answer
Q6. EBR (IF) stands for __________________ ( Hint: Source of Finance) EBR (IF) का मतलब है __________________ (संकेत: वित्त का स्रोत)
- A) Extra Budgetary Resources (Institutional Finance)
- B) Extra Budgetary Resources (Investors Finance)
- C) Extra Budgetary Railways (Institutional Finance)
- D) Extra Budgetary Resources (International Finance)
Correct Answer: Extra Budgetary Resources (Institutional Finance)
Explanation: Explanation :
Q7. A contract that is impossible to perform is: वह अनुबंध जिसका निष्पादन असंभव है: एक अनुबंध जिसका पालन करना असंभव है वह है: वह अनुबंध जिसका निष्कर्ष असंभावित है:
- A) Valid
- B) Void
- C) Enforceable
- D) Conditional
Correct Answer: Void
Explanation: Explanation : Contracts that require impossible actions, such as bringing a dead person to life, are void.
Q8. Public moneys should not be utilized for the benefit of a particular person or section of the community unless ____________ (Hint: Canons of financial propriety)सार्वजनिक धन का उपयोग किसी विशेष व्यक्ति या समुदाय के वर्ग के लाभ के लिए तब तक नहीं किया जाना चाहिए जब तक कि ____________ (संकेत: वित्तीय औचित्य के सिद्धांत)
- A) A claim for the amount could be enforced in a Court of Law.
- B) A claim for the amount sanctioned by General Manager
- C) A claim for the amount sanctioned by FC
- D) None of the above
Correct Answer: A claim for the amount could be enforced in a Court of Law.
Explanation: Explanation : Public moneys should not be utilized for the benefit of a particular person or section of the community unless- a. the amount of expenditure involved is insignificant ; or
Q9. The incidental costs i.e., _____ of Contract value towards issue and operation of LC - Letter of Credit shall be borne by the supplier /contractor. अनुबंध मूल्य के आकस्मिक खर्च, अर्थात् एलसी (लेटर ऑफ क्रेडिट) जारी करने और उसके संचालन से संबंधित _____ राशि आपूर्तिकर्ता/ठेकेदार द्वारा वहन की जाएगी।
- A) 0.15 %
- B) 0.25 %
- C) 0.50 %
- D) 0.75 %
Correct Answer: 0.15 %
Explanation: Explanation : Key Points on Letter of Credit: 1. Applicable for Works/Stores/Services/Maintenance contracts.
Q10. Which type of contracts must be in writing and registered to be enforceable? किस प्रकार के अनुबंधों को लागू करने के लिए लिखित और पंजीकृत होना आवश्यक है?
- A) Sale of immovable property
- B) Buying groceries
- C) Lending money to a friend
- D) Online shopping orders
Correct Answer: Sale of immovable property
Explanation: Explanation : Certain contracts, like real estate transactions, must be in writing and registered to be legally valid.
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