Independent Internal Reviews Should Be Done

question 84

Multiple Choice

Independent internal reviews should be done

• A) at the end of each accounting period.
• B) at the end of each month.
• C) periodically on a surprise basis.
• D) by the external auditor.

---

Definitions:

High Price

A price level that is significantly above the average or expected price for a product or service, often due to demand exceeding supply or premium offerings.

Total Utility

The entire enjoyment experienced from the use of a particular quantity of goods or services.

Marginal Utility

The supplementary enjoyment or advantage gained by a customer from the consumption of one more unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service relative to its market price, indicating the economic benefit to consumers.