Social accounting is primarily concerned with: MCQ with Answer and Explanation

Social accounting is primarily concerned with:
A. Calculating national income and economic performance of the country
B. Maximizing shareholder wealth
C. Recording petty cash expenses
D. Minimizing corporate taxes
Answer: Option A
Solution (By JKExamLibrary)
At a macro level, social accounting (or national income accounting) measures the economic activity, income, and expenditure of a nation.

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The 'Krishi Kalyan Cess' was introduced for:
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B. Education
C. Infrastructure
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Correct Answer: Option D


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Question #2 Report Error
The 'Secretarial Audit' is mandated for:
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B. Listed companies and certain prescribed class of companies
C. Private companies only
D. Small companies only

Correct Answer: Option B


Explanation:
As per Section 204 of Companies Act, 2013, secretarial audit is mandatory for listed and other prescribed companies.

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The 'Companies (Auditor's Report) Order' (CARO) 2020 applies to:
A. Only banks
B. Certain class of companies as specified
C. Only listed companies
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Correct Answer: Option B


Explanation:
CARO 2020 is applicable to specified companies, excluding certain categories like banking, insurance, OPC.