Which of the following is the most accurate UPSC-level statement regarding interest calculation on Government loans and...
Type: MCQ • Marks: 1
Which of the following is the most accurate UPSC-level statement regarding interest calculation on Government loans and advances?
Options
A. Interest may be calculated according to the Principal's discretion if the amount benefits Government
B. Interest should be calculated strictly according to the applicable Government rules, sanctioned terms and authorised rate, using the correct outstanding principal and relevant period, with proper recording and reconciliation
C. Interest is always calculated on the original principal until the loan is fully closed
D. Interest calculation is merely an accounting formality and need not be audited
Explanation
#VALUE!
Want to attempt the full test series with a timer and instant score? Purchase the package to unlock the complete test.
Purchase Now
UPSC Principal & Vice PrincipalManagement Finance Administration
Practice more
This page is indexed for search so students can find questions directly from Google.
