Discussion Questions 1. List the seven broad principles of internal control. 2. Internal control procedures are important in every busi- ness, but at what stage in the development of a business do they become especially critical? 3. Why should responsibility for related transactions be divided among different departments or individuals? 4. Why should the person who keeps the records of an as- set not be the person responsible for its custody? 5. When a store purchases merchandise, why are individ- ual departments not allowed to directly deal with suppliers