. Question 34 (1 point) Which of the following is not a suggested procedure to establish a good control activity over cash disbursements? 10 12 Different individuals approve and make payments. Blank cheques are stored with limited access. 13 10 15 The bank statement is reconciled monthly. 16 17 18 O pre-signed blank cheques 19 20 21 Question 35 (1 point) In a period of inflation (prices are rising), which inventory cost formula will result in higher net income? 23 . 25 There would be no effect on net income 23 22 Cost of Goods Sold for the period will be the same under FIFO and Average Cost 29 20 Average Cost 03 FIFO