MCom09 Cost and Management Auditing M.Com Question Bank : uou.ac.in

Name of the University : Uttarakhand Open University
Degree : M.Com
Subject Code/Name : MCom09 Cost and Management Auditing
Year : II
Document Type : Old Question Papers
Website : uou.ac.in

Download Model/Sample Question Paper : https://www.pdfquestion.in/uploads/uou.ac.in/4386-MCom-09.pdf

UOU Cost & Management Auditing

M.Com.-10 (Master of Commerce)
Second Year, Examination – 2012

Related : Uttarakhand Open University MCom08 Cost and Management Accounting Question Bank : www.pdfquestion.in/4384.html

Note : This paper is of sixty (60) marks containing three (03) sections. Learners are required to attempt the questions contained in these sections according to the detailed instructions given therein.

Year 2012

SECTION – A
(Long-answer – type questions)
Note : Section ‘A’ contains four (04) long-answer-type questions of fifteen (15) marks each. Learners are required to answer two (02) questions
1. Critically explain cost audit. Enumerate the essential features of cost audit.
2. How for the statutory provisions regarding cost audit are justified? Give suitable examples from a few selected industries or your choice in support of your answer.

3. Explain ‘management audit’. Also discuss the provisions of Indian companies Act with regard to management audit.
4. Discuss the review of manufacturing operations in cost and management audit.

SECTION – B
(Short – answer – type questions)
Note : Section ‘B’ contains eight (08) short- answer type questions of five (05) marks each. Learners are required to answer four (04) questions only. Answers of these questions must be restricted to two hundred fifty (250) words approximately. (4*5=20)
1. Liabilities of cost-auditor.
2. Cost audit programme.
3. Cost accounting record rules.
4. Cost audit report
5. Audit of public sector undertakings.
6. Internal control in cost and management audit.
7. Review of purchase operations.
8. Social audit.

SECTION – C
(Objective – type questions)
Note : Section ‘C’ contains ten (10) objective –type questions of one (01) mark each. All the questions of this section are compulsory.
1. Basically it is intended that cost-audit be carried out by Chartered Accountants.
2. If a cost auditor gets the information that he/she is being replaced by some other cost-auditor, he/she should not attend the General Body Meeting of the Company.

3. Non-expression of some insubstantial information or fact by an auditor leads to criminal liability.
4. U/S 619(3)(b) of Indian Companies Act the right to carry out supplementary audit of Government Companies is vested in a cost accountant.
5. Remuneration to a management auditor, as a percentage of profit of business, is permitted under the code of conduct.

Indicate the correct answer-option :
6. As per diminishing balance method of charging depreciation, if depreciation @ 30% is ` 30,000/- for the first year, what will be the amount of depreciation for the 3rd year?
a. Rs. 21,000/-
b. Rs. 30,000/-
c. Rs. 14,700/-
d. Rs. 90,000/-

7. For which of the following jobs, cost-audit is not required?
a. Processing
b. Manufacturing
c. Mining
d. None of these

8. Which of the following refers to efficiency audit?
a. Propriety of actions.
b. Performance of functions as per pre-determined targets.
c. Achieving defined profit targets.
d. None of the above.

9. Which of the following is not included in the scope of audit of manufacturing process?
a. Plant Location
b. Plant Layout
c. Manufacturing Planning
d. None of these

10. Which of the following refers to internal check?
a. It continues along with the accounting function.
b. It starts after completion of accounting function.
c. It aims to detect fraud and embezzlement.
d. All of the above.

Year 2015

M.COM-09 Cost and Management Auditing :
Section – A : (Long Answer Type Questions)
Note : Section ‘A’ contains four (04) long-answer-type questions of fifteen (15) marks each. Learners are required to answer any two (02) questions only. (2×15=30)
1. What are the rights of cost auditor? Describe in detail his duties and liabilities.
2. (a) Define Management audit and discuss the purpose of this audit.
(b) State the difference between management audit and financial audit?

3. What do you mean by persnnel audit? Which elements should be considered while reviewing the personnel department? Discuss each such element in detail.
4. What are the principles of decision making? How will a management auditor reivew these principles.