21 -28 plz

5 Use the answer sheet for the following true false questions. A = True B = False True/False (1 point each) 21. TF The Sarbanes-Oxley Act (SOX) requires that independent outside auditors must attest to the level of internal controls 22. TF One example of a periodic Independent verification is the bank reconciliation The normal balance for the Allowance for Doubtful Accounts account is a debit 23. TF balance 24. TF A factor buys receivables from businesses for a fee and collects the payment directly from customers. 25. T F Ordinary repairs should be recognized when incurred as revenue expenditures. 26. T F Additions and improvements to a plant asset that increase the asset's operating efficiency, productive capacity, or expected useful life are generally capitalized in the period incurred. 27. TF Forget Spring. I'm ready for Summer. Do not use the answer sheet for the following question 28. (2 points each) Below are descriptions of internal control problems. In the space to the left of each item, enter the code letter of the one best internal control principle that is related to the problem described. (An answer can appear more than once) Internal Control Principles A Establishment of responsibility B. Segregation of duties C. Physical control devices D. Documentation procedures E. Independent internal verification F. Human resource controls 1. Three people handle cash sales from the same cash register drawer. 2. Cash shortages are not discovered because there are no daily cash counts by supervisors 3. The same person opens incoming mail and posts to the accounts receivable subsidiary ledger 4. The treasurer of the company has not taken a vacation for over 20 years. 5. The person who is authorized to sign checks approves purchase orders for payment