what is the correct answer

1} Internal control over a company's assets should include the following policy A) Responsibilities and duties of employees will be divided B) All cash receipts will be deposited into the bank the same day they arrive. () All cash payments will be made by cheque (except petty cash). D) All of these answers are correct. 2) The objectives of internal control are to ensure efficient operations and provide reasonable assurance of all of the following EXCEPT A) business information is accurate. By assets are safeguarded and used for business purposes. C) employees and managers comply with laws and regulations, D) profits are maximized while minimizing spending 3) Company policy for internal control should include all of the following EXCEPT A) employees will be rotated through a variety of assignments. Bj all cheques are signed by the owner (or responsible employee) after receiving authorization to pay from the departments concerned. ( at time of payment, all supporting invoices or documents will be stamped "paid." D) one employee should have the total responsibility for approving purchases, authorizing payments, and signing cheques 4) A deposit received by the bank will include A) a debit to the company's bank account. B) a credit to the company's bank account. C) no increase or decrease is made to the company's bank account. D) a credit to the cash account on the company's books. 5) When the bank pays a cheque written by the company, it would A) credit the customer's bank account. B) debit the customer's bank account, () debit the cash account on the company's books. D) No increase or decrease is made to the company's bank account. 6) When a company transfers funds among parties electronically, without the use of paper cheques it is called A) e-commerce. Bj automated reconciliation. () cheque truncation. D) electronic funds transfer. 7) One internal control safeguard is to assign all the duties of receiving, depositing, and recording cash to one employee. True or False