Question : What are the basic functions of the Public Accounts Committee (PAC)?
Option 1: To examine the statement of accounts showing the income and expenditure of state corporations, trading and manufacturing schemes and projects.
Option 2: To examine the accounts of stores and stocks.
Option 3: To examine the statement of accounts of autonomous bodies.
Option 4: All the above
Correct Answer: To examine the statement of accounts showing the income and expenditure of state corporations, trading and manufacturing schemes and projects.
Solution : The correct option is To examine the statement of accounts showing the income and expenditure of state corporations, trading and manufacturing schemes and projects .
The Public Accounts Committee (PAC) performs various important duties, including auditing the financial statements of state enterprises, trade ventures, industrial efforts, and projects. By evaluating these financial records, government institutions may be held responsible for their financial practices and discover instances of financial mismanagement, inefficiency, or probable corruption.
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