Discussion
Which of the following statements about the Task Force on Accounting and Budget Formats for ULBs (2002) is not correct ?
Answer: D
The statement that the Task Force was appointed by the 11th Finance Commission is not correct, according to the key, which is why D is the answer. The Task Force on Accounting and Budget Formats for urban local bodies was appointed by the Comptroller and Auditor General of India, following the Finance Commission's recommendation on accounts.
The Task Force devised model budget formats with accounting formats and made recommendations on introducing cost accounting and management information systems, so A, B and C are true.
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