CSR (Corporate Social Responsibility) is mandatory under the Companies Act 2013 for companies with a net profit of at least: MCQ with Answer and Explanation

Question
CSR (Corporate Social Responsibility) is mandatory under the Companies Act 2013 for companies with a net profit of at least:
A. Rs 50 Crores
B. Rs 10 Crores
C. Rs 5 Crores
D. Rs 1 Crore
Answer: Option C
Solution (By JKSSB Mock Tests)
Section 135 mandates CSR for companies with Net Worth ≥ 500 Cr, Turnover ≥ 1000 Cr, or Net Profit ≥ 5 Cr.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
What is the primary benefit of Just-in-Time (JIT) funding under the PFMS framework?
A. Increases bank interest for agencies
B. Reduces the borrowing cost of the Central Government by preventing unspent balances
C. Slows down project implementation
D. Eliminates state governments from the process
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
JIT ensures funds are released only when actually needed for expenditure, minimizing the government's borrowing costs on idle parked funds.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Opportunity Cost can be best described as:
A. The cost of idle time
B. The benefit sacrificed when choosing one alternative over the next best alternative
C. The direct cost of making a product
D. A cost that cannot be changed
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Opportunity cost is a crucial economic and management concept reflecting the value of the foregone alternative in decision making.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
In a journal entry, if an asset is destroyed by fire and fully insured, which account is debited?
A. Asset Account
B. Profit & Loss Account
C. Insurance Company (Claim) Account
D. Sales Account
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Because the loss is fully insured, the insurance company becomes a debtor for the claim amount, hence debited.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Accountancy and Book Keeping 1861 Statistics 1318
Explore Subjects
Accountancy and Statistics 3179 Economy GK 2220 English 15164 Computer 5279 Current Affairs 575
Practice Mix
Which of the following is an indirect tax in India?
The valve between the left atrium and left ventricle is the:
A person faces north. He turns 45° left, then 90° right, then 45° left. Which direction is he facing?
Under the Income Tax Act, the 'TDS' on the sale of an immovable property (other than agricultural land) by a resident is governed by which section, and what is the rate?
In 'Piecemeal Distribution' during dissolution, the first priority for payment of outside liabilities is: