Bridget Harrard has prepared the following list of statements about internal control.

1. One of the objectives of internal control is to safeguard assets from employee theft, robbery, and unauthorized use.

2. One of the objectives of internal control is to enhance the accuracy and reliability of the accounting records.

3. No laws require U.S. corporations to maintain an adequate system of internal control.

Identify each statement as true or false. If false, indicate how to correct the statement.