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

Which of the following correctly completes the statement: 'The two standard renter's insurance policies are broad form and _____ form.'?

special

comprehensive

named perils

basic

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Verified step by step guidance

Understand the context of the question: It is asking about types of renter's insurance policies, which are part of personal finance and risk management concepts.

Review the common types of renter's insurance policies. Typically, these include broad form, basic form, named perils form, and special form. Each type covers different levels of risk and perils.

Clarify the definitions: Broad form policies cover more perils than basic form policies, while special form policies provide the most comprehensive coverage, often covering all risks except those explicitly excluded.

Analyze the options provided: The question asks for the second type of standard renter's insurance policy alongside broad form. Based on industry standards, the correct answer is 'special form,' as it is commonly paired with broad form in renter's insurance.

Conclude that the correct completion of the statement is 'special form,' as it aligns with the standard terminology used in renter's insurance policies.