Using Multiple Distinct Queries Inside Single Stored Procedure

Hello,

I was wondering if anyone can explain the positives and negatives of using a single stored procedure that contains one or more distinct queries. I know there are problems with dynamic SQL but I am not proficient enough to know whether this falls under that umbrella.

For clarification, what I am referring to is this: In a single stored procedure, I have a parameter called Query_ID that is used to identify which query in the sproc that I want to execute. Then from my ASP page, I simply pass the appropriate value for Query_ID. So:

IF @QUERY_ID = 1
BEGIN
SELECT [whatever]
FROM [tbl1]
WHERE [conditions]
GROUP BY [something]
ORDER BY [somethingelse]
END
ELSE
IF @QUERY_ID = 2
BEGIN
SELECT [whatever]
FROM [tbl2]
WHERE [conditions]
GROUP BY [something]
ORDER BY [somethingelse]
END
END

I hope that makes sense. Thanks in advance.