3. If available, a 3.3% discount for payment within 10 days instead of 30 days represents an approximate savings of what % annually? 4. A control procedure designed so that the employee that records cash received from customers does not also have access to the cash itself is an example of what sort of control? 5. One way managers estimate the value of internal controls involves expected loss. What is the mathematical equation to demonstrate this expected loss and what is the value of a control procedure when involving expected loss? 6. To help strengthen internal controls no employee should be given too much responsibility. In terms of accounting duties these segregation of duties should cover three (3) main functions. Describe these functions and provide examples of each. 7. In terms of a disaster recovery plan to restore an organization's IT function in the event that its data center is destroyed please explain the difference between a cold site, a hot site, and a second data center