Item $1$Internal control systems are:Multiple ChoiceDeveloped by the Securities and Exchange Commission for public companies.Developed by the Small Business Administration for non$-$public companies.Developed by the Internal Revenue Service for all U$.$S$.$ companies.Required by Sarbanes$-$Oxley $($SOX$)$ to be documented and verified if the company's stock is traded on an exchange $($a public company$).$Required only if a company plans to engage in interstate commerce.