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. It is banned by Ind AS

B. It reduces taxable income

C. Excessive software cost

D. Lack of standardized models to objectively value human capital

Answer: Option D

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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Question #1

The 'Angel Tax' exemption for startups was enhanced to include investments up to:

A. ₹5 crore

B. ₹50 crore

C. ₹10 crore

D. ₹25 crore

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Correct Answer: Option D

Explanation:
Eligible startups can receive angel investments up to ₹25 crore without angel tax.

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

Question #2

The Comptroller and Auditor General (CAG) of India audits:

A. Government departments and public sector undertakings

B. Local businesses

C. Private companies

D. All companies

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Correct Answer: Option A

Explanation:
CAG audits the accounts of the Union and State governments and bodies substantially financed by government.

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

Question #3

Budgetary control is a system of controlling costs that includes:

A. Continuous comparison of actuals with budgets

B. Fixing of selling prices

C. Hiring of staff

D. Preparation of budgets only

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Correct Answer: Option A

Explanation:
Budgetary control involves preparing budgets and continuously comparing actual performance against the budget to take corrective action.

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

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