The 'Blockchain' technology in supply chain finance can provide: MCQ with Answer and Explanation

Question
The 'Blockchain' technology in supply chain finance can provide:
A. Delayed settlement
B. Manual errors
C. Paper-heavy process
D. Real-time visibility and immutable transaction records
Answer: Option D
Solution (By JKSSB Mock Tests)
Blockchain enables transparent, secure, and instant tracking of transactions.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
All revenues received, loans raised, and money received in repayment of loans by the Government of India form part of the:
A. Contingency Fund of India
B. Consolidated Fund of India
C. Prime Minister's Relief Fund
D. Public Account of India
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Correct Answer: Option B

Explanation:
As per Article 266(1), all these inflows form the Consolidated Fund of India, from which no money can be spent without parliamentary approval.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Safe Harbour Rules' under transfer pricing provide:
A. No relief
B. Penalty provisions
C. Circumstances in which tax authorities accept transfer price declared by taxpayer
D. Criminal prosecution
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Correct Answer: Option C

Explanation:
Safe harbour rules reduce litigation by accepting declared margins in specified conditions.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
A compound journal entry is an entry that:
A. Involves more than one debit or more than one credit account
B. Is passed at the end of the year
C. Affects only two accounts
D. Corrects previous errors
Discuss
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Correct Answer: Option A

Explanation:
A compound entry contains multiple debits and/or multiple credits, combining related transactions on the same date.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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