Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

A builder's risk form is most often written as which of the following types of insurance policies?

Scheduled property form

Completed value form

Blanket coverage form

Reporting form

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Verified step by step guidance

Step 1: Begin by understanding the concept of a builder's risk insurance policy. This type of insurance is designed to cover buildings under construction, protecting against risks such as fire, theft, or other damages during the construction process.

Step 2: Review the different types of insurance policy forms mentioned in the problem: Scheduled property form, Completed value form, Blanket coverage form, and Reporting form. Understand their definitions and applications.

Step 3: Focus on the Completed Value Form. This form is commonly used for builder's risk insurance and is based on the total completed value of the project. It requires the insured to declare the project's value upfront.

Step 4: Compare the Completed Value Form to the other options. For example, Scheduled Property Form typically lists specific items or properties covered, Blanket Coverage Form provides coverage for multiple properties under one policy, and Reporting Form requires periodic updates on the value of the covered property.

Step 5: Conclude that the Completed Value Form is the most appropriate type of insurance policy for builder's risk coverage, as it aligns with the nature of construction projects and their valuation.