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.

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Question #1

Which of the following taxes is subsumed under GST?

A. Value Added Tax (VAT)

B. Customs Duty

C. Income Tax

D. Stamp Duty

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Correct Answer: Option A

Explanation:
State VAT, Central Excise, and Service Tax were among the major indirect taxes subsumed into GST.

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Question #2

Which accounting principle mandates that a business will continue its operations indefinitely?

A. Going Concern Concept

B. Accounting Period Concept

C. Business Entity Concept

D. Dual Aspect Concept

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Correct Answer: Option A

Explanation:
The Going Concern Concept assumes the enterprise has neither the intention nor the need to liquidate or curtail materially the scale of its operations.

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Question #3

The 'Convergence' of accounting standards means:

A. Keeping different standards

B. Adopting IFRS as they are

C. Modifying local standards to align with IFRS

D. No change

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Correct Answer: Option C

Explanation:
Convergence involves making domestic standards consistent with IFRS, with modifications if necessary.

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

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