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

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

An example of an uninsurable business risk is losses caused by:

Natural disasters such as floods

Employee theft

Fire damage to inventory

Changes in government regulations

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Understand the concept of insurable and uninsurable risks: Insurable risks are those that can be covered by insurance policies, typically involving measurable financial loss and predictable probability. Uninsurable risks, on the other hand, are those that cannot be covered due to their unpredictable nature or lack of measurable probability.

Review the examples provided in the problem: Natural disasters such as floods, employee theft, and fire damage to inventory are typically insurable risks because they can be quantified and insurance companies can assess the likelihood of occurrence.

Analyze the example of changes in government regulations: This is considered an uninsurable risk because it is unpredictable, varies widely across industries, and cannot be quantified in terms of probability or financial impact.

Understand why changes in government regulations are uninsurable: Insurance companies cannot predict or control legislative changes, making it impossible to assess the risk or provide coverage for potential losses caused by such changes.

Conclude that changes in government regulations are an example of an uninsurable business risk, as they do not meet the criteria for insurability like predictability and quantifiability.