Prepare for JKSSB FAA 2026 with these important Social Accounting MCQs by Exam Waves. These questions cover simple and important topics like the meaning of Social Accounting, its objectives, CSR, Companies Act 2013, and other key points that can help you prepare better for the exam.
Q1. Consider the following statements regarding the meaning of Social Accounting:
- The term Social Accounting was coined by J.R. Hicks in 1942.
- It is the process of measuring and reporting the social and environmental impact of an organisation’s activities.
- It is an information system in which social losses and benefits of an organisation are identified.
- Social Accounting is concerned only with the financial profit earned by an organisation.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: B
Q2. Consider the following statements regarding the objectives of Social Accounting:
- It shows what an organisation contributes to social development.
- It measures non-financial performance such as impact on health and environment.
- It makes organisations accountable towards people and the environment.
- It helps employees and promotes the effective and sustainable use of natural resources.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: D
Q3. Consider the following statements regarding the importance of Social Accounting:
- It helps management in formulating policies in an appropriate way.
- It acts as evidence of social commitment.
- It helps an organisation understand its social and environmental impact.
- It is used exclusively for calculating the monetary profit of an organisation.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: B
Q4. Match List-I with List-II regarding the development of Social Accounting in India:
| List-I | List-II |
|---|---|
| A. Sachar Committee Report | 1. Recommended need for social disclosure |
| B. Tata Steel | 2. First in India to conduct Social Accounting |
| C. Companies Act, 2013 | 3. Firms must spend 2% of profits |
| D. J.R. Hicks | 4. Coined the term Social Accounting |
Select the correct answer using the code given below:
A) A-1, B-2, C-3, D-4
B) A-2, B-3, C-4, D-1
C) A-3, B-4, C-1, D-2
D) A-4, B-1, C-2, D-3
Answer: A
Q5. Consider the following statements regarding Social Accounting in India:
- The Sachar Committee Report of 1978 recommended the need for social disclosure.
- Tata Steel was the first in India to conduct Social Accounting.
- The Companies Act, 2013 requires firms to spend 2% of profits on social activities as stated in the material.
- These provisions made Corporate Social Responsibility mandatory.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: D
Q6. Consider the following statements regarding Corporate Social Responsibility (CSR) under the Companies Act, 2013 as given in the material:
- Section 135 of the Companies Act, 2013 covers companies whose annual turnover is ₹1000 crore or more.
- It covers companies having a net worth of ₹500 crore or more.
- It covers companies having a profit of ₹5 crore or more.
- The provisions mentioned in the material are associated with mandatory Corporate Social Responsibility.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: D
Q7. Match the following CSR criteria with the amounts mentioned in the material:
| Criteria | Amount |
|---|---|
| A. Annual Turnover | 1. ₹1000 crore or more |
| B. Net Worth | 2. ₹500 crore or more |
| C. Profit | 3. ₹5 crore or more |
Select the correct answer:
A) A-1, B-2, C-3
B) A-2, B-3, C-1
C) A-3, B-1, C-2
D) A-1, B-3, C-2
Answer: A
Q8. Consider the following statements regarding Social Accounting and Corporate Social Responsibility:
- Social Accounting measures the social and environmental impact of an organisation’s activities.
- It identifies social losses and benefits of an organisation.
- Companies Act, 2013 made Corporate Social Responsibility mandatory as stated in the material.
- Section 135 is associated with the CSR provisions mentioned in the material.
Which of the statements given above are correct?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: D
Q9. Which of the following are mentioned as measures of Social Accounting in the given material?
- Cost-benefit analysis
- Preparation of separate schedule
- Calculation of only financial profits
- Preparation of Trial Balance
Select the correct answer:
A) 1 only
B) 1 and 2 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: B
Q10. Consider the following pairs regarding important facts about Social Accounting:
- J.R. Hicks — Coined the term Social Accounting in 1942
- Sachar Committee Report — Recommended social disclosure in 1978
- Tata Steel — First in India to conduct Social Accounting
- Section 135 of Companies Act, 2013 — Covers CSR provisions mentioned in the material
Which of the pairs given above are correctly matched?
A) 1 and 2 only
B) 1, 2 and 3 only
C) 2, 3 and 4 only
D) 1, 2, 3 and 4
Answer: D
