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Respond to the following in a minimum of 175 words: List the 7 broad principles of internal control. Why should responsibility for related transactions be

Respond to the following in a minimum of 175 words:

List the 7 broad principles of internal control. Why should responsibility for related transactions be divided among different departments or individuals? Why should the person who keeps the records of an asset not be the person responsible for its custody? What are the limitations of internal control?

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