Consider what you have learned about internal control procedures and recognize they can also be used to safeguard non-cash assets. Match each procedure with a non-cash asset that could be safeguarded using it. Maintaining physical safeguards Segregation of duties Transaction authorization Record retention Long-term assets like equipment and automobiles should not be discarded or sold below market price without approval to prevent outside parties from obtaining them at a particularly low price or for free. Inventory should be monitored and recorded by different employees, ensuring those authorized to have access to inventory are unable to steal it. Similar to cash, inventory is a frequent target for thieves. These types of safeguards can ensure that unauthorized individuals do not have access to inventory. Maintain and examine documentation for long-term assets like equipment and automobiles to ensure associated transactions (e.g., for depreciation) are properly calculated and recorded.