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FPQP EXAM: CASH MANAGEMENT AND THE USE OF DEBT QUIZZES & ANS GRADED A+
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FPQP EXAM: CASH MANAGEMENT AND THE USE OF DEBT QUIZZES & ANS GRADED A+
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FPQP EXAM: CASH MANAGEMENT AND THEUSE OF DEBT QUIZZES & ANS GRADED A+
True or false: The type of statements used and the format of these statements
may vary from practitioner to practitioner Answer - True
What statements are suppose to accomplish Answer - To show an individuals
net worth and whether during a period they have a positive or negative cash
flow
Statement of financial position Answer - Balance sheet
What the purpose of a balance sheet is Answer - static snapshot of the
individual's financial situation as of a given date .
Why financial statements can be compared Answer - Successive personal
financial statements may be compared to identify trends in the individual's
financial situation
3 categories of assets Answer - Cash/cash equivalents
Invested assets
Use assets
Use asset Answer - Individual has built up a rare coin collection in his home,
and has not intention of selling it, the coin collection should be classified as a
use asset
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