The term social accounting was first introduced by __________.
Last updated Jun 24, 2026
Correct Answer:
Option B —
J. R. Hicks
The term Social Accounting (also known as National Accounting) was first introduced by the British economist Sir John Richard Hicks in 1942. He used it to describe a method of measuring a country's economic activity by treating the entire nation like a single business entity with its own set of "accounts."
Why the other options don't fit:
A) Abraham Lincoln: While a monumental historical figure, he was the 16th President of the United States and not an economic theorist.
C) Adam Smith: Known as the "Father of Economics," he wrote The Wealth of Nations in 1776, long before the modern framework of social accounting was developed.
D) William Scott: Though there are several notable people by this name (including historians and business professors), none are credited with the origin of this specific term.
Answer verified by Quintessence Classes faculty — Karan Nagar, Srinagar.
