A key challenge of Human Resource Accounting is: MCQ with Answer and Explanation

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A key challenge of Human Resource Accounting is:

A. Lack of standardized models to objectively value human capital

B. It is banned by Ind AS

C. It reduces taxable income

D. Excessive software cost

Answer: Option A

Solution (By JKSSB Mock Tests)

Valuing human beings as assets involves subjective assumptions about tenure, capability, and future value, lacking a universally accepted model.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

The 'TCS' collected by e-commerce operator is to be deposited by:

A. Monthly

B. Quarterly

C. 10th of next month

D. 10th of the month following the month of collection

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Correct Answer: Option C

Explanation:
TCS is to be remitted within 10 days after the end of the month of collection.

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

Question #2

Cost Accounting defines 'Cost Centre' as:

A. The bank account where funds are kept

B. A person, location, or item of equipment for which costs may be ascertained for control

C. The total profit of the organization

D. A unit of product ready for sale

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Correct Answer: Option B

Explanation:
A cost centre is a logical segment (like a department or machine) used to accumulate and trace costs for management purposes.

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Question #3

Which of the following is an example of a nominal account?

A. Land Account

B. Bank Account

C. Commission Received Account

D. Sundry Debtors Account

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Correct Answer: Option C

Explanation:
Commission Received Account represents an income, which is a nominal account. The rule is 'Credit all incomes and gains'.

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

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