1. A business process is a set of coordinated activities and tasks that (Ch3 1 RQ) a. Create secure systems. b. Constitute a transaction cycle. c. Accomplish some organizational goal. d. Do none of the above.

9. When properly implemented, internal controls (Ch3 RQ 9) a. Eliminate large loss exposures. b. Eliminate material risks. c. Minimize loss exposures. d. Prevent large losses. e. None of the above.

Segregation of duties applies to separating which three functions? ( CH3 RQ 14) a. Sales, purchasing, and expenditures. b. Ordering, receiving, and accounting. c. Accounting, authorization, and custody. d. None of the above.

Should internal controls prevent financial statement fraud? Explain your answer. (Ch 3 RQ 32)