1. In an apparel store, one individual is assigned the task of recording the cash received from customers. Another individual is responsible for the creation and handing over of credit memos to customers. These measures are taken to avoid the risk of fraud. Which of the following principles of internal control activities does this scenario best illustrate??
A. ?Segregation of duties
b. ?Documentation procedures
c. ?Physical controls
d. ?Independent internal verification
2. An investor's goal can be described best as:
a. avoiding risk regardless of the risk premium offered.
b. maximizing returns while minimizing risk.
c.capturing the high average returns of equity investing while limiting the associated risk as much as possible.
d. maximizing return