1) Why are internal controls important in a business? List the fundamental principles of internal control. 2) Eddie works at a clothing store in the mall. He sees that his manager is very busy. At the end of the day, Eddie offers to count the cash in the cash register, deposit it at the bank, and record the accounting journal entries. What is the risk in this situation? Explain using the concept of separation of duties. 3) Using the three components of the fraud triangle, explain why a student may cheat on an exam? 4) What is a petty cash receipts? Who signs a petty cash receipts