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Below are internal controls for the acquisition and payment cycle that were selected from a standard internal control questionnaire. Read the recuiroments. Requirement a. For each control, identify which element of the five categories of control activities is applicable (soparation of duties, proper authorization, adequate documents or records, physical control over assets and rocords, or independent chocks on performance). Requirements a. For each control, identify which element of the five categories of control activities is applicable (separation of duties, proper authorization, adequate documents or records, physical control over assets and records, or independent checks on performance). b. For each control, state which transaction-related audit objective(s) is (are) applicable. c. For each control, identify an audit procedure that could be used to test the control for effectiveness. (Audit procedures may be used more than once.) d. For each control, identify a likely misstatement, assuming that the control does not exist or is not functioning. (Possible misstatements may be used more than once.) e. For each likely misstatement, identify a substantive audit procedure to determine whether the misstatement exists. (Substantive audit procedures may be used more than once.) Below are internal controls for the acquisition and payment cycle that were selected from a standard internal control questionnaire. Read the reguirements. Requirement a. For each control, identify which element of the five categories of control activities is applicable (separation of duties, proper authorization, adequate documents or records, physical control over assets and records, or independent checks on performanco)

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