Rohit AgrawalRohit Agrawal asked 8 months ago
7 Answers
RaviRavi Staff answered 7 months ago

question is regarding what is “Not” a type

Rohit AgrawalRohit Agrawal answered 7 months ago

so cost audit on behalf of society is also considered as type of audit or not please clarify sir and thn option d would be correct

Rohit AgrawalRohit Agrawal answered 7 months ago

sorry sir at the cost of sounding repetative i am unable to understand the mcq 890 properly can u please explain and clarify the same
 

RaviRavi Staff answered 7 months ago

please ignore last post, it was for some other query

RaviRavi Staff answered 7 months ago

https://resource.cdn.icai.org/44600bos34430smcp16.pdf
above pdf was used for making this MCQ, we can see that Cost Audit for Society is not a type of cost audit but yes society has advantages from cost audit
Cost Audit can be ordered voluntarily by management
or Ordered by Customer who will pay on cost + profit basis
or made mandatory by government
society does not have power to order or conduct cost audit

Rohit AgrawalRohit Agrawal answered 7 months ago

so the answer would be option a for the same mcq

RaviRavi Staff answered 7 months ago

management orders cost audit
government orders cos audit
customer can order cost audit
so all above are types of cost audit
society doesn’t order cost audit
society may get benefitted from cost audit
answer is “d”

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