Internal controls are not designed to safeguard assets ron1 natural disasters. employee theft. robbery. unauthorized use. A petty cash fund should be replenished every day. at the end of every accounting period. once a year. as soon as an expense is paid from the fund. Two individuals at a retail store work the same cash register. You evaluate this situation as a violation of establishment of responsibility. a violation of segregation of duties. supporting the establishment of responsibility. supporting internal independent verification. Postage stamps on hand are considered to be cash. petty cash. cash equivalents. a prepaid expense. A debit balance in Cash Over and Short is reported as a contra asset. miscellaneous asset. miscellaneous expense. miscellaneous revenue