The 'Artificial Intelligence' in accounting is primarily used for: MCQ with Answer and Explanation

Question

Share Report Error

The 'Artificial Intelligence' in accounting is primarily used for:

A. Automating repetitive tasks, fraud detection, and predictive analysis

B. Physical verification

C. Only entertainment

D. Replacing all accountants

Answer: Option A

Solution (By JKSSB Mock Tests)

AI assists in automation, anomaly detection, and advanced analytics.

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

Share Report

If a machinery costing ₹80,000 is sold for ₹70,000 with accumulated depreciation ₹20,000, the profit/loss on sale is:

A. No profit no loss

B. Loss ₹10,000

C. Profit ₹10,000

D. Profit ₹30,000

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Book value = 80,000 - 20,000 = 60,000. Sale price 70,000. Profit = 70,000 - 60,000 = ₹10,000.

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

Question #2

Share Report

In the three-column cash book, discount columns are:

A. Used for bank reconciliation

B. Balanced like cash columns

C. Posted to ledger accounts individually

D. Not posted, only totalled and transferred

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Discount columns in cash book are merely memorandum; total discount allowed and received are posted to respective ledger accounts, not individually.

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

Question #3

Share Report

The 'Faceless Assessment' in income tax aims to:

A. Simplify GST

B. Eliminate physical interface between taxpayer and tax authorities

C. Increase face-to-face meetings

D. Decrease tax rates

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Faceless assessment uses technology-driven anonymized scrutiny to reduce corruption and harassment.

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

Explore All Accountancy and Book Keeping MCQs