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CS Executive Practice Test: Cost Accounting Records & Cost Audit under the Companies Act, 2013 – Corporate and Management Accounting
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CS Executive Practice Test: Cost Accounting Records & Cost Audit under the Companies Act, 2013 – Corporate and Management Accounting
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25 Questions

1. A good costing system gives equal emphasis on cost ascertainment and cost
2. Non-compliance of which attribute of financial statements makes a company, besides invoking penalties, impairs the confidence of the public investors:
3. Which of the following statement is not correct
4. ‘Cost-benefit analysis’ falls under:
5. Every cost auditor, shall submit the cost audit report along with his or its reservation or qualification or suggestions, if any, in the form:
6. A PSU company shall within 30 days from the date of receipt of the report of the cost auditor furnish an explanation on every reservation or qualification contained therein to:
7. Every PSU company, within a period of 30 days from the date of receipt of cost audit report, furnish to the Central Government with such report full explanation on every reservation or qualification contained in the report in:
8. Management Accounting and Cost Accounting are to each other
9. Which one is NOT the objective of Cost Accounting Standards
10. _____is concerned with historical records, while is concerned with historical cost with pre-determined cost
11. Which of the following is an objective to be achieved through Cost Accounting Standards –
12. Cost accounting differs from financial accounting in respect of:
13. Section of the Companies Act, 2013 gives the cost auditor the same power as the financial auditor has under the section of the Companies Act, 2013
14. The Cost Accounting Standard (CAS) concerned with quality control cost is:
15. Cost Accounting Standard is related to bringing uniformity and consistency in the principles and methods of determining the selling and distribution overheads with reasonable accuracy
16. Every cost auditor, who conducts an audit of the cost records of a company, shall submit a report in:
17. Which one of the following is not a statistical technique of cost audit —
18. Which of the following is not a Statistical technique of Cost Audit
19. Every cost auditor shall forward his duly signed report to the board of directors of the company within a period from the closure of the financial year to which the report relates
20. Principles to determine production overheads relates to:
21. Which is not a social purpose of cost audit
22. Which of the following Sections of the Companies Act, 2013 deals with the audit of Cost Accounting Records
23. The social purpose of cost audit is:
24. The objective of CAS-1 is
25. Practical difficulty in the installation of a costing system is:

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