9) From an internal control standpoint, the asset most susceptible to improper diversion \& use is a. prepaid insurance. b. cash. c. buildings. d. land. 10) Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them a. increases the potential for errors and fraud. b. decreases the potential for errors and fraud. c. is an example of good internal control. d. is a good example of safeguarding the company's assets. 11) When two or more people get together for the purpose of circumventing prescribed controls, it is called a. a fraud committee. b. collusion. c. a division of duties. d. bonding of employees. 2 ACC 115 Summer 2022 Quiz #2 12) Who is responsible for internal controls within an organization? a) The internal auditor b) The external auditor c) Management d) The PCAOB