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Today we are going to practice 76 MCQs from the chapter “Government Planning, Budgeting and Accounting System”. You can download all these questions from below “Download here” option.
1- Primary purpose of budgeting system?
Ans:- To plan and control finances
2- Budget period typically refers to?
Ans:- The financial year for which budget is prepared
3- A participative budget is prepared?
Ans:- With input from all levels of management
4- Incremental budgeting assumes?
Ans:- That the budget increases based on previous years
5- The budget income statement is derived from?
Ans:- Operating budget
6- Capital budgeting involves ?
Ans:- Long-term investment decision
7- In a cash budget, the closing balance is?
Ans:-Opening balance Plus net cash flow
8- Zero based budgeting required?
Ans:- Justifying all expenses from scratch
9- A flexible budget is useful for?
Ans:- Adjusting for actual level of activity
10- Which of the following is not a type of budget?
Ans:- Employee budget
11- Which of these is a key component of a financial budget?
Ans:- Capital expenditure budget
12- Which of the following statements is true about budgeting ?
Ans:- It helps in financial planning and control
13- Which software is commonly used for preparing a budget ?
Ans:- Microsoft Excel
14- Who is responsible for preparing the annual National budget of Nepal?
Ans:- Ministry of Finance
15- Which of the following is the primary objective of the national budget of Nepal?
Ans:- To ensure economic growth and development
16- In Nepal, the fiscal year starts?
Ans:- Shrawan 1
17- In Nepali fiscal year runs from?
Ans:- Shravan 1 to Ashar last
18- Which of the following documents is presented by the Financial Minister for the approval of the National budgeting in Nepal?
Ans:- Budget speech
19- What is the significance of budgetary policy of Nepal?
Ans:- It have in allocating resources to economic development project
20- The ‘Mid- year revenue’ of Nepal’s budget is used to?
Ans:- Adjust the budget based on the actual economic situation
21- In Nepal’s budgeting system, the term ‘revenue budget’ refers to?
Ans:- Budget allocated for recurring expenses and income generation
22-In the budgeting system of Nepal, budget speech is usually presented by?
Ans:- The Finance Minister
23- Which fiscal policy tool is most commonly used by the Nepalese government to control inflation?
Ans:-Interest rate adjustment
24- Which of the following is not an essential element of the national budget of Nepal?
Ans:- Distribution of subsidies to foreign investors
25- The budget implementation report in Nepal is submitted by ?
Ans:- Ministry of Finance
26- Which body approves the national budget in Nepal after it is presented?
Ans:- The parliament of Nepal
27- Which of the following is the main challenge in Nepal’s budgeting process?
Ans:- Limited capacity for budget execution and implementation
28- In Nepal’s government budgeting system, the term ‘capital budget’ primarily refers to?
Ans:- Budget for development projects and infrastructure
29- The Government of Nepal’s budgeting system includes a focus on?
Ans:- Financial long term capital project
30- The accounting equation is?
Ans:- Assets = liabilities+ owners equity
31- Who is regarded as the father of accounting?
Ans:- Luca Pacioli
32- Luca Pacioli, the father of accounting, was an Italian?
Ans:- Accountant and Mathematician
33- Luca Pacioli is credited with the first writing about the double entry system of bookkeeping in which of his works?
Ans:- Summa de Arthmetica
34- Which year did Luca Pacioli publish his famous book on accounting?
Ans:- 1494
35- Which organization in Nepal is primarily responsible for regulating accounting practices?
Ans:- Institute of chartered accountants of Nepal (ICICAN)
36- What is the main purpose of adopting the Nepali Accounting System (NAS)?
Ans:- To align with global accounting standards
37- Which accounting system is commonly used by the government and public sector organizations in Nepal?
Ans:- Double-entry accounting
38- Which of the following is the primary body responsible for auditing in Nepal?
Ans:- Auditor General’s Office
39- What is the main aim of the “Nepal Financial Reporting Standards”(NFRS)?
Ans:- To ensure consistency in financial reporting
40- The Nepali Accounting System (NAS)Is adopted based on which international framework?
Ans:- International financial reporting standards (IFRS), International Accounting standard (IAS)
41- Which of the following is not a feature of the Nepali accounting system?
Ans:- Continuous updating and revision of accounting standard
42- Which is the role of the Nepal Rastrya Bank in the accounting system?
Ans:- Regulating financial institutions and maintaining financial stability
43- Which accounting method is commonly used by small businesses in Nepal?
Ans:- Cash basis system
44- In Nepal, the revenue management information system- RMIS focus on?
Ans:- Recording government revenues and expenditure
45- Who is responsible for approving the national budget in Nepal?
Ans:- The parliament
46- Which of the following is the primary focus on the public financial management system in Nepal?
Ans:- Monitoring public sector spending and revenue
47- The cost accounting system in Nepal is mainly used to?
Ans:- Determine the profitability of a business
48- The cash flow statement in Nepal accounting System is primarily used to?
Ans:- Assess a company’s profitability
49- Which of the following types of companies is most likely to follow Nepal Financial reporting standard (NFRS)?
Ans:- Public listed companies
50- The Institute of Chartered Accounts of Nepal (ICAN) is responsible for?
Ans:- Overseeing Professional standards for accounts
51- Which country introduced the first Five-Year plan for economic development?
Ans:- Soviet Union
52- The Marshall plan was an economic program and the reconstruction of which region after World War II?
Ans:- Western Europe
53- The Green Revolution in India was a part of which type of development?
Ans:- Agriculture development plan
54- Which of the following is not a character of a development plan ?
Ans:- Immediate resolved within a year
55- The sustainable development goals were adopted by all United Nations member states in which year?
Ans:- 2015
56- Which country’s New Deal Development programme was implemented during the Great Depression?
Ans:- United States
57- Which development plan in China was implemented to transfer the country into an industrialized economy?
Ans:- Great Leap Forward
58- What was the primary goal of the European recovery program or the Marshall plan?
Ans:- To help rebuild the economies of European country after world war II
59- Which African country launched a vision 2030 development plan aimed at performing the nation into a leading economic power house in Africa?
Ans:- Kenya
60-Which international organization introduced the concept of development goals in the form of the millennium development goals?
Ans:- United Nations Organization
61- Which of the following countries adopted a 5 year plan focused on the development of nuclear energy industries?
Ans:- India
62- What was the focus of the first five year plan of the Soviet Union?
Ans:- Expansion of heavy industry and Collectivisation of Agriculture
63- The Belt and Road initiative, which is a global development strategy, was launched by which country?
Ans:- China
64- Which development plan was adopted by Japan in the post world war second era to rebuild its economy?
Ans:- The Japan economic recovery plan
65-What is the new economic policy introduced by the Soviet Union in 1921 focus on
Ans:- Agricultural and industrial Collectivization
66- Which of the following countries adopted the Mahathirs’ vision 2020 aimed at developing the country into a fully industrialized nation by 2020?
Ans:- Malaysia
67- The development planning system in Nepal was primarily guided by which of the following institutions?
Ans:- Nepal planning commissions
68-What was the primary objective of agriculture prospective plan of Nepal?
Ans:- To promote agriculture growth and modernization
69- What is one of the major development challenges identified in Nepal development plans?
Ans:- High poverty rate and employment
70- Which international organisation has supported Nepal’s Development plan through funding and Technical assistance?
Ans:- World Bank, European Union, International Monetary Fund
71- The concept of inclusive development in Nepal’s plans focuses on which of the following?
Ans:- Equal opportunity for all citizens
72- Which factor received the largest portion of the budget in Nepal first five year plan?
Ans:- Agriculture
73- In the context of Nepal’s development plans, what does “ social inclusion” mainly aim to address?
Ans:- Empowering marginalized groups such as women, Dalits and Indigenous people
74- Which of the following is a key strategy in Nepal’s development plans for promoting Environmental sustainability?
Ans:- Promoting sustainable agriculture and renewable energy source
75- Which of the following is a key significant challenge for Nepal’s development plan?
Ans:- High population growth rate, over Reliance on agriculture, political instability
76- Poverty reduction strategy paper in Nepal was implemented too ?
Ans:- Address poverty by targeting social and economic inclusivity
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