Internal and External Auditors Are Part of Which of the Following

question 101

Multiple Choice

Internal and external auditors are part of which of the following components of internal control?

• A) Monitoring controls
• B) Information systems
• C) Control procedures
• D) Control environment

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Definitions:

Marginal Costs

The upsurge in complete costs linked to the production of a supplementary unit of a good or service.

Average Variable Costs

The total variable costs of production divided by the quantity of output produced, representing the variable cost per unit of output.

Marginal Cost

The increase or decrease in the total cost that arises when the quantity produced is incremented by one unit.

Average Variable Cost

is the cost that varies with the level of output, calculated by dividing the total variable costs by the quantity of output produced.