Under the concept of 'Triple Bottom Line' (TBL) reporting, a company focuses on: MCQ with Answer and Explanation

Under the concept of 'Triple Bottom Line' (TBL) reporting, a company focuses on:
A. People, Planet, and Profit
B. Assets, Liabilities, and Equity
C. Profits, Dividends, and Retained Earnings
D. Revenues, Expenses, and Taxes
Answer: Option A
Solution (By JKSSB Mock Tests)
TBL is a framework advocating that companies commit to social (People) and environmental (Planet) concerns just as they do on financial (Profit) goals.

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Practice More Accountancy and Book Keeping Questions

Question #1
Which accounting concept requires that the life of the business be divided into smaller intervals for performance measurement?
A. Materiality Concept
B. Going Concern Concept
C. Matching Concept
D. Accounting Period Concept

Correct Answer: Option D


Explanation:
The Accounting Period Concept artificially breaks the continuous life of a business into standard intervals (usually 12 months) for reporting purposes.

Question #2
S1: GST is levied on the supply of goods and services. S2: GST subsumed all indirect taxes in India. Which statement(s) is/are correct?
A. Both S1 and S2
B. S1 only
C. S2 only
D. Neither S1 nor S2

Correct Answer: Option B


Explanation:
GST is a comprehensive indirect tax levied on the supply of goods and services. However, it did not subsume *all* indirect taxes; for example, basic customs duty, stamp duty, and electricity duties are still outside GST. S1 is correct, S2 is incorrect.

Question #3
'Securities Premium' can be used for:
A. Payment of salary
B. Purchase of stock
C. Writing off preliminary expenses
D. Distribution of dividend

Correct Answer: Option C


Explanation:
Securities premium can be used for purposes specified in Section 52 of Companies Act, like issue of bonus shares, writing off preliminary expenses, etc.