Question

The correct statements about Public Account of India are:
I. The public account is the fund to which all public moneys received by or on behalf of the government are credited.
II. No legislative appropriation is required for payments from the Public Account of India.
III. Legislative appropriation is required for payments from the Public Account of India.
IV. All public moneys, other than those credited to the Consolidated Fund of India, which are received by or on behalf of the government are credited to the Public Account of India.
V. It is operated by executive action.