II $-$ Say True and False $(4$ Points$)$

Segregating employee duties is a very important way used by companies to protect their assets.

When two or more of these tasks are performed by the same or related employees we can say there is a strong internal control system.

Cash is the most easily mishandled either through theft or carelessness from all the company's assets.

Payroll internal controls are the procedures your business follows to protect cash transactions.

III $-$ Answer the following questions briefly $(7$ Points$)$

What is meant by internal control?

What is the acronym "CAR" stands for and also briefly explain CAR's purpose.