Exam DISC-IA Practice Question 17

Study guide: Exam DISC-IA

Accounting differences can concern recognition (whether an item appears), measurement (the amount) or presentation (where and how it is shown). Which difference between statutory accounting and GAAP is a difference in presentation?

• A) SAP nonadmits premium receivable more than 90 days past due
• B) SAP nets reinsurance recoverable on unpaid losses against loss reserves
• C) SAP expenses acquisition costs as incurred instead of deferring them
• D) SAP excludes furniture and equipment from the balance sheet

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Concepts tested

• Accounting Standards
• Statutory Accounting Principles
• GAAP
• Reinsurance Accounting

More questions from this set

• Exam DISC-IA Practice Question 16
• Exam DISC-IA Practice Question 18