3.1 Select one control that is an example of an entity-wide control.

a Segregation of duties over cash receipts and recording

b Authorization procedures for purchasing

c The company's risk assessment process

d Physical controls to safeguard assets such as inventory

e Reconciliations of bank accounts

3.2 Select one control that is an example of transaction control.

a Controls related to the control environment

b Controls over management override

c Centralized processing and controls, including shared service environments

d Controls to monitor results of operations

e Controls over accounting estimates

f Controls over the period-end financial reporting process

g Policies that address significant business control and risk management practices