Which of the following best reflects financial accountability in interest calculation?

Type: MCQ • Marks: 1

A. Every interest charge should be traceable to an authorised rate, principal balance and applicable period

B. Interest should be estimated

C. No calculation sheet should be maintained

D. Borrowers should decide the amount payable

Explanation

Traceability creates a defensible audit trail.

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UPSC Principal & Vice Principal Management Finance Administration

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