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Question

Cost audit means the audit ___________.


A
of cost of goods produced
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B
by a cost accountant
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C
for the purpose of cost management
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D
all of the above
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Solution

The correct option is D all of the above
Cost Auditor or Cost Accountant is appointed by the board of directors with the approval of central government. 
Cost Audit is done to verify the cost records and provide the necessary cost information to the management. Cost audit is done with a view to understand the cost management which includes in depth analysis of cost of the produce, normal and abnormal losses. 

Economics

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