Ch 7: COST ACCOUNTING SYSTEM — Study Material & Test Yourself
Intermediate
📚 Cost and Management Accounting
📖 Ch.7 — COST ACCOUNTING SYSTEM
📘 V2: Study Material & Test Yourself
⚡ Free Mode (Answers Locked)
⏱ Duration: 54 Mins
🎯 Total Marks: 30
Passed at: 12 Marks
Max Attempts: 10
⚖️ Statutory Applicability: As amended by the latest Finance Act & Regulatory Notifications (AY 2026-27)
Answer ALL questions. Refer directly to curriculum standards and prescribed statutory provisions.
📑 Exam Questions
6 Questions • Total 30 Marks1(a): Cost Accounting System
5 Marks
The Annual General Meeting (AGM) of Green Limited was held on 31.8.2024.
Suppose the Chairman of the company after two days of AGM went abroad for
next 31 days. Due to the unavailability of the Chairman, within time period
prescribed for submission of copy of report of AGM with the registrar, the report
as required was signed by two Directors of the company, of which one was
additional Director of the company. Comment on the signing of this report of
AGM.
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1(b): Cost Accounting System
5 Marks
Yes, the signing is in order as the report can be signed by any director in
the absence of Chairman.
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Official 4-part guideline answer, ratio decidendi & step-by-step evaluation rubrics are exclusive to Pro Hub members.
2(a): Cost Accounting System
5 Marks
No, the signing is not in order as only the Chairman is authorised to sign
the report
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2(b): Cost Accounting System
5 Marks
Yes, the signing is in order, as in the absence of Chairman at least two
directors should sign the report.
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3(a): Cost Accounting System
5 Marks
No, the signing is not in order, since in case the Chairman is unable to
sign, the report shall be signed by any two directors of the company, one
of whom shall be the Managing director, if there is one and company
secretary of the company.
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3(b): Cost Accounting System
5 Marks
The AGM shall be called by giving 21 clear days’ notice. However, it can be
called by giving shorter notice if members entitled to vote at that meeting give
their consent in writing or by electronic mode. In such cases how many
members have to give their consent?
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Official 4-part guideline answer, ratio decidendi & step-by-step evaluation rubrics are exclusive to Pro Hub members.
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