Which of the Following Is Not an Element of Internal

question 155

Multiple Choice

Which of the following is not an element of internal control?

• A) risk assessment
• B) monitoring
• C) information and communication
• D) cost-benefit considerations

---

Definitions:

Revenue Potential

The maximum amount of income that could be generated from a particular market or product, under ideal conditions.

Utility

A measure of satisfaction or happiness that a person derives from consuming goods and services.

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Maximize Utility

The process or goal of obtaining the highest level of satisfaction or benefit from consuming goods and services, given a consumer's limitations, such as income or resources.