32) A merchandiser: A) Earns net income by buying and selling merchandise. Receives fees C) Buys products from consumers. D) Earns profit from fares only E) Earns profit from commissions only. only in exchange for services 33) A properly designed internal control system: A) Insures profitable operations. B) Lowers the company's risk of loss. C) Requires the use of non-computerized systems D) Eliminates the need for an audit. E) Is not necessary if the company uses a computerized system. 34) Sales returns: A) Represent cash discounts. B) Are not recorded under the perpetual inventory system until the end of each accounting period. C) Refer to merchandise that customers return to the seller after the sale. D) Represent trade discounts. B) Refer to reductions in the selling price of merchandise sold to customers. 35) An analysis that explains differences between the checking account balance according to the depositor's records and the balance reported on the bank statement is a(n): A) Analysis of debits and credits. B) Internal audit. C) Trial reconciliation. D) Bank audit. E) Bank reconciliation