What among the following is NOT true about the Public Accounts Committee? 1. The Committee was first set up in 1921.2. Its main function is to audit the annual reports of Comptroller and Auditor General of India (CAG).3. It consists of 15 Lok Sabha members and 7 Rajya Sabha members.4. The term of the office of the Public Accounts Committee is one year.

Political institutions are the organizations in a government that create, enforce, and apply laws. They often mediate conflict, make (governmental) policy on the economy and social systems, and otherwise provide representation for the population.