The Objective of Internal Auditing Is Service to ________

question 23

Multiple Choice

The objective of internal auditing is service to ________.

• A)management
• B)a specific department
• C)the organization
• D)the audit committee

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Definitions:

Annual Fixed Costs

Costs that do not vary with the volume of production or sales and are incurred on a yearly basis.

Variable Costs

Expenses that vary directly with levels of production.

Fixed Costs

Fixed costs refer to the expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Normal Rates

The usual or average rates for something within a particular context, such as interest rates or growth rates.