Practice Test

Q1) The centre point of cost audit is ____________ Show Answer

Q2) Appointment of cost auditor is done by ______ Show Answer

Q3) Cost auditor gives his report to ________ Show Answer

Q4) Cost audit protects the interest of Show Answer

Q5) Cost Audit protects : Show Answer

Q6) Approval of ____ is necessary in appointment of cost auditor : Show Answer

Q7) Cost auditor is appointed by : Show Answer

Q8) The authority for approving the appoint of Cost Auditor is _______ ________ . Show Answer

Q9) The Cost Auditor has to submit his report to the Board of Directors within _________ days from the close of the financial year of the company. Show Answer

Q10) The authority competent to approve the appointment of Cost Auditor is Show Answer

Q11) The maximum number of audit be accepted by a firm of accountants having three partners is Show Answer

Q12) Under the exiting regulation, a Cost Accountant in practice can take as a partner: Show Answer

Q13) ________is the verification of the correctness of Cost Accounts and adherence to Cost Accounting principles. Show Answer

Q14) Two of the basic principles governing an audit are ____and ______ Show Answer

Q15) A cost auditor at a time can function as an auditor of how many companies of which all the companies paid capital is more than Rs. 30 lakhs ? Show Answer

Q16) A Cost Audit Firm has three partners. State how many companies cost audit can be conducted where the paid up capital of all the companies is less than Rs 25 lakhs ? Show Answer

Q17) A Cost Accountant in practice has accepted as the concurrent auditor of a company for a particular year. Can the Cost Account accepts appointment as Cost Auditor of the same company for that year ? Show Answer

Q18) The company has to give documents to the cost auditor within Show Answer

Q19) The Annexures to the Cost Audit Report and Proforma should be signed by Show Answer

Q20) The Cost Auditor Report need to be submitted to : Show Answer

Q21) A Cost accountant may be appointed as a _____ under the Insurance Act. Show Answer

Q22) CAS-9 deals with Show Answer

Q23) Cost Accounting Record rules were first for _____industry. Show Answer

Q24) Outward transportation cost, as per CAS-5 shall form part of cost of ___________ Show Answer

Q25) rectified spirit is covered by Show Answer

Q26) Each major materials for which details to be furnished as per Annexure to the Cost Audit Report Rules should constitute Show Answer

Q27) Copy of Cost Audit Report need not be submitted to Show Answer

Q28) According to CAS 2 on Capacity Determination, Normal Capacity, "Normal Capacity" is Show Answer

Q29) According to CAS 8 on utilities the cost of maintaining stand-by utilities is ______cost. Show Answer

Q30) The structuring of Cost Audit includes Show Answer

Q31) CAS - 4 deals with Show Answer

Q32) The role of Cost Auditor in respect of non-moving stock is to review Show Answer

Q33) Management Audit is an important tool for : Show Answer

Q34) Cost Auditor is required to provide reply to any clarification sought for, by the Central Government from the Cost Auditor in writing of the receipt of the communication addressed to him calling such clarification within Show Answer

Q35) CAS-9 deals with Show Answer

Q36) The Annexure to the (Cost Records and Audit) Rules, 2014 deals with Show Answer

Q37) As per Companies (Cost Records and Audit) Rules, 2014, the Annexure to the Cost Report is to be duly approved by the Show Answer

Q38) As per _________ Outward Transportation Cost shall form part of cost of sale. (Fill in the gap from the below ) Show Answer

Q39) Companies (Cost Records and Audit) Rules, 2014 provides that Cost report is to be submitted to the Board of director within Show Answer

Q40) CAS-13 deals with Show Answer

Q41) The annexure to Cost Audit Report under Companies (Cost Records and Audit) Rules 2014 deals with Show Answer

Q42) Cost Audit was initially introduced in the year Show Answer

Q43) CAS - 5 deals with Show Answer

Q44) From CRA - 3 related to : Show Answer

Q45) From CRA - 1 related to : Show Answer

Q46) Appointment of financial auditor is made by : Show Answer

Q47) Under Companies Act, the Cost audit report shall be submitted to the ___________ of the company. Show Answer