UPSC Recruitment Paper 2016 : Post of Assistant Director (Cost)

1. Who among the following is the competent authority to appoint a cost auditor where the Central Government mandates the audit of cost records?

(a) Members of the Company
(b) Central Government
(c) Board of Directors
(d) State Government concerned

2. Which one of the following Sections of the Companies Act, 2013 is applicable to the audit of cost accounts in certain cases?

(a) Section 139
(b) Section 141
(c) Section 148
(d) Section 144

3. Number of days within which every cost auditor shall forward his / her report referred to in subrule (5) of Rule 6 of the Companies (Cost Records and Audit) Rules 2014 to the Board of Directors of the company from the closing of the company’s financial year to which the report relates is:

(a) 90 days.
(b) 120 days.
(c) 150 days.
(d) 180 days.

4. If there is a casual vacancy in the office of the cost auditor whether due to resignation, death or removal, the same shall be filled by the Board of Directors within how many days of occurrence of such a vacancy?

(a) 15 days
(b) 30 days
(c) 45 days
(d) 60 days

5. Which one of the following is the threshold limit applicable in the case of a multi-products or a multi-services company under of the Companies (Cost Records and Audit) Rules 2014 as regards its individual turnover?

(a) Rs. 25 Crore
(b) Rs. 35 Crore
(c) Rs. 50 Crore
(d) Rs. 100 Crore

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Courtesy : UPSC