Answer all questions with a 5 or more sentences each. You cannot cite anything from the internet it must be written in your own words, the video we saw, or the textbook only. Use 12 pt font and double space. Your cover page should have your name, the professor name, the class name, and date. Due date is May 12 ^th.

1.What does section 404 of the Sarbanes-Oxley Act require? What is the meaning of internal control? What are the five components of internal control? What are the four types of control activities?

2.What are the main purposes of internal controls over cash receipts?

3.What is the main purpose of internal controls over cash payments?

4.What is a voucher system?

5.In a voucher system, each recorded purchase is supported by what five documents?

6.What is the purpose of canceling the voucher and supporting documents when a payment is made?