Following are a number of internal controls associated with the various financial statement audit cycles that auditors will identify for one of their clients: 1- Merchandise receipt reports are pre-numbered and are checked daily to determine that they have been generated correctly. 2- Collections through checks are received by mail, the receptionist receives said correspondence and endorses the checks before transferring them to the credit department. 3- The president of the company signs the checks once he compares the drawn check against the documents that substantiate the disbursement. 4- The general ledger accounts receivable control account is reconciled against the accounts receivable subsidiary on a monthly basis. 5- Every day deposits of the collected cash, which was stored in the vault the night before, are prepared and sent to the bank. Required Explain which of the following control activities applies in each case (you must associate one and only one of the possible answers, and you will use it only once) and why you answer that way. control activities a) separation of duties or tasks b) proper authorization (proper authorization of transactions and activities) c) adequate documents and records d) custody and physical controls (physical controls on assets and records) e) independent performance comparison