Which of the following is the social purpose of Cost Audit ?

CS Executive · Corporate and Management Accounting · PYQS · December 2020
Which of the following is the social purpose of Cost Audit ?
(A) Detection and correction of abnormal losses
(B) Detection of errors and frauds
(C) Determination of inventory valuation
(D) Pinpointing areas of inefficiency and mismanagement for the benefit of shareholders and consumers

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Cost Accounting

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