1.a.Explain the normal business process in the acquisition and payment cycle. As part of your explanation, state which documents firms would normally use to record activities in that cycle.

b. Describe the control procedures that firms commonly use for acquisition and payment activities. Explain which controls and tests of controls would be appropriate for each of the specific controls that you mentioned.

c. Describe common substantive analytical procedures that would be used for account balances related to the acquisition and payment activities.

d. Describe common substantive tests of transactions and account details that would be used for the acquisition and payments cycle balances.