What are the Components of Internal Control? Explain each component.

Q2. Why must an auditor assess materiality? (2.5 Points)

Q3.You are the owner of a small grocery store, Corner Marketplace. Explain the five process categories and how they apply to your business. (2.5 Points)

Q4. Name two management assertions pertaining to the inventory account balance and explain why they are considered in an audit. (5 points) 1- Follow the instructions inside the document such as: font type, size, spacing, number of words and other instructions.

2- Write references in APA format and the number of references should not be less than what is required in the document instructions.

3- Originality, meaning that the text should not be copied from websites or other research, as there is a system to detect the percentage of similarity and copying from other research.

4- Submission within the specified time, which is 4 days