E5-1 Identifying Internal Control Principle and Financial Reporting Control Objective [LO 5-1, LO 5-2) At most movie theaters, one employee sells tickets and another employee collects them. One night when you're at the movies, your friend comments that this is a waste of the theater's money, Required: 1. Identify the name of the control principle to which this situation relates. O Establish responsibility O Document procedures Segregate duties Independently verify Restrict access 2. Explain to your friend what kind of fraud could occur if the same person did both Jobs. (Select all that apply) Possibility of issuing wrong tickets. Possibility of recording more sales Possibility of recording every sale Possibility of not recording the sale