Q2 1. Which of the following describes the internal control procedure "assignment of responsibilities"? A) To validate their accounting records, a company should have an audit by an external accountant B) Separate the custody of assets from accounting. C) External auditors monitor internal controls. D) With clearly assigned responsibilities, all important jobs get done. 2. Which of the following describes the internal control procedure "separation of duties"? A) Cashiers must not have access to accounting records. B) External auditors will monitor internal controls. C) The information system is critical. D) Prenumber invoices and other documents. 3. Which of the following describes the internal control procedure "proper documents"? A) Mandatory vacations will improve internal control. B) Separate the custody of assets from accounting. C) Prenumber invoices and other documents. D) A company should purchase a fireproof vault. 4. Employees who receive shipments of goods do not have access to the accounting records for merchandise. Which of the following principles of internal control does the company followot follow:? A. Establishment of responsibility D. Physical controls B. Segregation of duties E. Independent internal verification C. Documentation procedures F. Human resource controls 1. Involves the review, comparison, and reconciliation of data prepared by other employees. Which of the following principles of internal control does the company followot follow: A. Establishment of responsibility D. Physical controls B. Segregation of duties E. Independent internal verification C. Documentation procedures F. Human resource controls 2. Three people handle cash sales from the same cash register drawer. Which of the following principles of internal control does the company followot follow: A. Establishment of responsibility D. Physical controls B. Segregation of duties E. Independent internal verification C. Documentation procedures F. Human resource controls