Social Accounting & Audit

JKSSB Finance Accounts Assistant · Accountancy & Book-Keeping · 20 practice questions with answers and explanations: 4 Easy, 9 Medium, 7 Hard.

Sample questions

Sample Easy question 1

Social audit refers to the process of:

  1. Auditing a company's private financial statements only
  2. Public verification of government scheme implementation by the community/stakeholders
  3. Filing GST returns
  4. Preparing a partnership deed
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Answer: B. Social audit is a participatory process where the community/beneficiaries verify official records against actual implementation of a scheme or programme.

Sample Medium question 2

Social audit of works under MGNREGA by the Gram Sabha is provided for in which section of the Act?

  1. Section 4
  2. Section 11
  3. Section 17
  4. Section 25
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Answer: C. Section 17 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 provides for social audit by the Gram Sabha.

Sample Hard question 3

What does a 'cash-based single entry system of accounting' record?

  1. Transactions only when cash is actually received or paid, using a single entry rather than double entry
  2. Every transaction with two equal and opposite entries
  3. Only credit transactions
  4. Only non-cash transactions
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Answer: A. This simpler system records only cash movements, unlike double-entry bookkeeping's two-sided entries.

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