A social audit is: MCQ with Answer and Explanation

A social audit is:

A. Financial audit by social organizations

B. An evaluation of a company's social responsibility performance

C. An audit of social clubs

D. Audit of government welfare schemes only

Answer: Option B

Social audit assesses a company's performance in social, environmental, and ethical areas, beyond financials.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1 Report Error

The 'Pension Fund Regulatory and Development Authority' (PFRDA) oversees:

A. National Pension System (NPS) and other pension funds

B. Mutual funds

C. Stock markets

D. Bank deposits

Correct Answer: Option A

Explanation:
PFRDA is the pension sector regulator.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2 Report Error

Which of the following is an indirect tax in India?

A. GST

B. Wealth tax

C. Income tax

D. Corporation tax

Correct Answer: Option A

Explanation:
GST is an indirect tax on supply of goods and services.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3 Report Error

The 'Special Economic Zone' (SEZ) supplies are treated as:

A. Zero-rated supply

B. Inter-state supply

C. Exempt supply

D. Intra-state supply

Correct Answer: Option A

Explanation:
Supply to SEZ is zero-rated, allowing input tax credit refund.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping