Question : The annual financial statement shows the receipts and payments of the government in the form of ___________.
Option 1: Contingency Fund, Public Account and Capital Projects
Option 2: Contingency Fund, Public Account and Consolidated Funds
Option 3: Public Account and Consolidated Funds
Option 4: Contingency Fund and Consolidated Funds
Correct Answer: Contingency Fund, Public Account and Consolidated Funds
Solution : The correct answer is Contingency Fund, Public Account and Consolidated Funds .
The Indian Constitution (Article 266) lists the three primary sources of funding for the Central Government as the Public Accounts of India, the Contingency Fund of India (Article 267), and the Consolidated Funds of India.
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