Accountancy Question on Income and Expenditure Account

Question

The cost audit is important for management because :
A. Cost audit helps in determination and allocation of cost of product.
B. It helps to identify wastage, inconsistency and irregularity in production.
C. It helps in proper valuation of inventory.
D. It facilitates settlement of industrial disputes.
E. It serves as a basis to charge tax on the cost of finished goods.
Choose the most appropriate answer from the options given below :

Accepted Answer

A, B and C Only

Accountancy Question on Income and Expenditure Account

Solution