The 'Sustainability Reporting' in India for top listed companies is mandated by: MCQ with Answer and Explanation

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The 'Sustainability Reporting' in India for top listed companies is mandated by:

A. RBI

B. MCA

C. SEBI (Business Responsibility and Sustainability Report - BRSR)

D. ICAI

Answer: Option C

Solution (By JKSSB Mock Tests)

SEBI requires the top 1000 listed companies to file BRSR.

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

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Question #1

The 'Audit Programme' is:

A. The trial balance

B. The audit report

C. The final accounts

D. A list of audit procedures to be performed

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Correct Answer: Option D

Explanation:
Audit programme details the steps and procedures for conducting the audit.

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

Question #2

The process of critically reviewing a company's budget to justify every cost as if the activity is being undertaken for the first time is called:

A. Zero-Based Budgeting

B. Performance Budgeting

C. Master Budgeting

D. Flexible Budgeting

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Correct Answer: Option A

Explanation:
Zero-Based Budgeting mandates that no budget base is carried forward automatically; everything must be justified from ground zero.

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

Question #3

S1: In the Single Entry System, the Statement of Affairs is prepared to ascertain the profit or loss for the year. S2: The difference between the closing and opening capital in a Statement of Affairs represents the profit or loss, adjusted for drawings and additional capital. Which statement(s) is/are correct?

A. S1 only

B. Both S1 and S2

C. S2 only

D. Neither S1 nor S2

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Correct Answer: Option C

Explanation:
S1 is incorrect because the Statement of Affairs ascertains capital, not profit/loss directly. S2 is correct; profit/loss is derived by comparing closing and opening capital, adjusting for drawings and fresh capital introduced.

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

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