Which of the Following Components of Internal Control Consists of Work

question 154

Multiple Choice

Which of the following components of internal control consists of work performed by internal and external auditors?

• A)monitoring of controls
• B)information systems
• C)control procedures
• D)control environment

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Definitions:

Merchandising Company

A business that purchases finished goods for resale to generate revenue, such as retailers.

Cost of Goods Sold

This is the direct costs attributable to the production of the goods sold by a company.

Direct Costs

Expenses that can be directly attributed to the production of specific goods or services, such as raw materials and labor.

Incremental Manufacturing Cost

The additional costs incurred to produce an extra unit of output, including additional materials, labor, and overhead expenses.