ESG Reporting focuses on an organization's performance regarding: MCQ with Answer and Explanation

Question

Share Report Error

ESG Reporting focuses on an organization's performance regarding:

A. Environmental, Social, and Governance factors

B. External, Strategic, and Global operations

C. Earnings, Sales, and Growth

D. Equity, Shares, and Gearing

Answer: Option A

Solution (By JKSSB Mock Tests)

ESG reporting discloses a company's non-financial impacts, assessing its sustainability, societal impact, and corporate governance practices.

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

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Question #1

Converting Single Entry to Double Entry involves preparing a 'Total Creditors Account' to find out:

A. Credit Sales

B. Closing Capital

C. Credit Purchases

D. Cash Purchases

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Correct Answer: Option C

Explanation:
Total Creditors Account reconstructs the relationship with suppliers; the balancing figure usually represents the missing credit purchases.

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Question #2

An opening journal entry is passed to:

A. Close nominal accounts

B. Bring forward the balances of assets, liabilities, and capital from the previous year

C. Adjust closing stock

D. Record the first transaction of the year

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Correct Answer: Option B

Explanation:
The opening entry records the closing balances of real and personal accounts from the previous year into the new books.

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

Question #3

The 'Ind AS 115' replaces which earlier standards?

A. AS 9 and AS 7

B. AS 10

C. AS 3

D. AS 2

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Correct Answer: Option A

Explanation:
Ind AS 115 supersedes AS 9 (Revenue Recognition) and AS 7 (Construction Contracts).

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

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