Blockchain technology in accounting is primarily used for: MCQ with Answer and Explanation

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Blockchain technology in accounting is primarily used for:

A. Calculating depreciation

B. Immutable and transparent record-keeping

C. Manual ledger posting

D. Preparing tax returns

Answer: Option B

Solution (By JKSSB Mock Tests)

Blockchain provides a distributed ledger that is secure, transparent, and tamper-proof.

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

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In the absence of a partnership deed, what is the rule regarding salaries to partners?

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Correct Answer: Option D

Explanation:
Section 13(a) of the Indian Partnership Act, 1932 states that partners are not entitled to receive any remuneration for participating in the business.

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Correct Answer: Option D

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Correct Answer: Option B

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