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AAMS 1 - The Asset Management Process Exam Study Guide with Complete Solutions $7.99   Add to cart

Exam (elaborations)

AAMS 1 - The Asset Management Process Exam Study Guide with Complete Solutions

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AAMS 1 - The Asset Management Process Exam Study Guide with Complete Solutions Assets - Answer️️ -Assets are the things the client owns - even if they are not fully paid for. Liabilities - Answer️️ -Liabilities are what the client owes - on credit cards, bank loans, mortgages, etc. N...

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  • August 27, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • AAMS
  • AAMS
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SophiaBennett
©SOPHIABENNETT@2024-2025 Monday, August 19, 2024 12:35 AM

AAMS 1 - The Asset Management
Process Exam Study Guide with
Complete Solutions

Assets - Answer✔️✔️-Assets are the things the client owns - even if they are
not fully paid for.

Liabilities - Answer✔️✔️-Liabilities are what the client owes - on credit
cards, bank loans, mortgages, etc.

Net Worth formula - Answer✔️✔️-Net Worth is a residual figure determined
by: Assets - Liabilities = Net Worth

Describe "Use Assets" - Answer✔️✔️-Assets used in the course of daily
living: automobiles, homes, boats, personal property, etc

Another name for: Statement of Financial Position - Answer✔️✔️-Balance
Sheet - details a specific date

Another name for: Income Statement - Answer✔️✔️-Cash Flow Statement -
details a period of time, typically a year

Income / Cash Flow Statement - Answer✔️✔️-Lists sources of income and
expenses that covers a specific period of time, typically a year.

Formula for an Income / Cash Flow Statement - Answer✔️✔️-Gross Income
- Expenses = Surplus (Deficit)



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