QULUTIONS - February, 2020 Accounts, the Accountant declared a profit of Ghc926,800 for the mber 2018. The Human Resource Manager said if we made so is our cash balance only Gh040,000?' Give any THREE reasons 1. After preparing the Accounts, the Accoun period ended 31" December 2018. The much as profit, why is our cash balan for this difference. 2. State any three importance and three challeng 3. In terms of models, write down any FOUR of the portance and three challenges respectively, of insurance to a business odels, write down any FOUR of the types of financial planning THREE types of assets, giving examples under each case your financial counsel so he could put his money into an investment. un any FOUR questions you are likely to ask this colleague before he invests 5. A colleague needs your financial counsel so he cou his money? vould you look out for in a good, achievable financial plan? Give any TWO. 7. A Client has tasked you to prepare a financial plan for her. She requires to see the process you will use. Itemise the first FOUR of the processes. 8. Distinguish between the following pairs with respect to insurance business: a. Insurance and gambling b. Pure risk and speculative risk C. Insurable and uninsurable risk d. Liquidated and unliquidated damages o What THREE main decision-points will you expect to see in a financial strategy? 10. In terms of time horizon, briefly explain the types of financial planning. Your explanation should include the tenure and the emphasis. 11. Your Branch manager argues that since we are spending a lot on the repairs of our fixed assets, we shall not depreciate them'. He wants your opinion. 12. You received your company's bank statement from Fidelity Bank showing a balance of Ghc735,000 in your company's favour. But your office cash book shows that you were supposed to have Ghc1,500,000 at the bank. Identify any THREE factors that may have led to this difference. he six principles/laws of insurance and explain any one