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1) One of the following is not true about control procedures for cash disbursement a) Two signatories on each cheque over a material amount so one person cannot withdraw money b) Give access to cheque to employees authorized to write cheques c) Make all disbursement by cheque or from petty cash d) Obtain proper approval for disbursements 2) When you establish the petty cash fund the following entry should be journalized: a) Debit Petty Cash and Credit Cash/Bank b) Debit Cash/Bank and Credit Petty Cash c) Debit Expenses and Credit Cash/Bank d) Debit Expenses and Credit Petty Cash 3) Internal Controls may help organizations through various ways. The main ideas include: a) It would safeguard assets of the organization b) It enables operational efficiency of the organization c) It promotes accountability and responsibility d) None of the above e) All of the above II - Say True and False (4.5 Points) 1) Segregating employee duties is a very important way used by companies to protect their assets. 2) When two or more of these tasks are performed by the same or related employees we can say there is a strong internal control system. 3) Cash is the most easily mishandled either through theft or carelessness from all the company's assets. III - Answer the following questions briefly (6 Points) 1) What is meant by internal control? 2) The CAR principle is a very important procedure of internal control. Can you state what the acronym stands for and also briefly explain CAR's purpose