A social audit report is: MCQ with Answer and Explanation
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Question #1
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Under the Indian Companies Act, 2013, financial statements include:
Correct Answer: Option B
Explanation:
As per Companies Act 2013, financial statements comprise balance sheet, profit and loss account, cash flow statement, statement of changes in equity and any explanatory notes.
As per Companies Act 2013, financial statements comprise balance sheet, profit and loss account, cash flow statement, statement of changes in equity and any explanatory notes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The fundamental accounting equation is a mathematical expression of which concept?
Correct Answer: Option D
Explanation:
The Dual Aspect Concept states that every transaction has a two-fold effect, expressed as Assets = Liabilities + Capital.
The Dual Aspect Concept states that every transaction has a two-fold effect, expressed as Assets = Liabilities + Capital.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Which of the following is a 'Liability of a Partner' in a general partnership?
Correct Answer: Option D
Explanation:
In a general partnership, all partners have unlimited joint and several liability.
In a general partnership, all partners have unlimited joint and several liability.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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