Difference between revisions of "Odomirok.14-F"
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==In Plain English!== | ==In Plain English!== | ||
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| + | ===2018.Spring #9 === | ||
| + | |||
| + | Let's look at this exam question from '''2018.Spring''': | ||
| + | |||
| + | : [https://www.battleacts6us.ca/pdf/Exam_(2018_1-Spring)/(2018_1-Spring)_(09).pdf <span style='font-size: 12px; background-color: yellow; border: solid; border-width: 1px; border-radius: 5px; padding: 2px 5px 2px 5px; margin: 5px;'>E</span>] <span style="color: red;">'''(2018.Spring #9)'''</span> | ||
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| + | I was little surprised because they haven't asked a question like this before. Most of the old questions are calculations. Anyway, they ask you to define and classify the given financial statement quantities as assets, liabilities, or income statement items. This is a very typical question from an accounting course and if you've had an accounting course, you'll probably find it easy. Here's how I think about it: | ||
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| + | * Money coming in ''(a receivable or recoverable)'' is good! A ''receivable'' is an '''asset'''. | ||
| + | * Money going out ''(a payable)'' is bad! A ''payable'' is an '''liability'''. | ||
| + | |||
| + | ...finish this later... | ||
[https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=14-F§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=14-F§ion=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span> | ||
Revision as of 14:52, 27 December 2018
Contents
Pop Quiz
BattleTable
Based on past exams, the main things you need to know (in rough order of importance) are:
reference part (a) part (b) part (c) part (d) E (2018.Spring #9) define:
- reinsurer recoverabledefine:
- erinsurer payabledefine:
- reinsurer funds helddefine:
- reinsurance provisionE (2017.Fall #14) E (2017.Spring #14) E (2016.Fall #13) E (2016.Spring #14) E (2015.Spring #15) E (2013.Fall #16) E (2012.Fall #19)
Full BattleQuiz You must be logged in or this will not work.
In Plain English!
2018.Spring #9
Let's look at this exam question from 2018.Spring:
- E (2018.Spring #9)
I was little surprised because they haven't asked a question like this before. Most of the old questions are calculations. Anyway, they ask you to define and classify the given financial statement quantities as assets, liabilities, or income statement items. This is a very typical question from an accounting course and if you've had an accounting course, you'll probably find it easy. Here's how I think about it:
- Money coming in (a receivable or recoverable) is good! A receivable is an asset.
- Money going out (a payable) is bad! A payable is an liability.
...finish this later...
Full BattleQuiz You must be logged in or this will not work.
BattleCodes
Memorize:
Conceptual:
Calculational:
