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QS 8-1 Internal control objectives LO C1 Indicate which statements are true and which are false. 1. Separating the responsibility for a transaction between two or more individuals or departments never improves a system of internal control. 2. The internal control of separation of duties requires that employees duplicate each other's work. 3 Separation of recordkeeping for assets from the custody over assets does not prevent collusion between two or more employees to commit fraud. 4. One objective of internal control procedures is to safeguard the assets of the business