dentity the R) Sales jou A) Subsidiary ledger that contains an account for each supplien (erediton show the balances C) Ronk of original eniry ther is designed and used for reconding only sales on credi E) Subsidiary ledger that contains a secparate account for cach party that grants both sho eren and long-tem eredit on account to the company The five fannpsc 9) cb accountahility, C) Control, relevance, compatibility, flesihility, and safety D) Historical cost, relevance, compatibility, timcliness, and cost-benefi E) Control, relevance, compatibility, flexibility, and cost-benmefi 10) Which of the following is nor one of the policies and procedures that make up an intemal control system? A) Prodeet assets B) Ensure reliable accounting. C) Guarantee a return to investors D) Urge adherence to company policies E) Promote efficient operations II) A properly designed internal control system: A) Lowers the company's risk of loss. B) Insures profitable operations. C) Eliminates the need for an audit. D) Requires the use of non-computerized systems. E) Is not necessary if the company uses a computerized system. 12) Internal control systems are: A) Developed by the Securities and Exchange Commission for public companies. B) Developed by the Small Business Administration for non-public companies. C) Developed by the Intermal Revenue Service for all U.S. companies D) Required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company). E) Required only if a company plans to engage in interstate commerce