Question: The assessment question states that for each business risk you must identify only 1 class of transaction or account balance (income statement or balance sheet line item). This paragraph clearly states the class of transaction that is at risk of misstatement, i.e. Revenue. Note that term sales or sales revenue was not used because the term used in the financial statements (consolidated income statement) of Newcrest is Revenue. Gross profit, profit before income tax, etc will not be appropriate as this is neither a class of transactions or an account balance. Account balance will be the items appearing on the balance sheet but total current assets, total liabilities, etc will not be appropriate as totals are not account balances. Paragraph 4 also clearly links the class of transaction (Revenue) to the assertion at risk of misstatement (accuracy)