The Largest Asset Class on Credit Unions' Balance Sheet as of September

question 7

Multiple Choice

The largest asset class on credit unions' balance sheet as of September 30, 2012 was

• A)cash.
• B)investment securities.
• C)home mortgages.
• D)checkable deposits.
• E)consumer credit.

Understand the accounting treatment and disclosure requirements for depreciation.

Grasp the concept of asset write-offs and how they differ from depreciation.

Evaluate the implications of depreciation policy choices on financial reporting and tax liability.

Understand the relevance of asset depreciation in the context of inflation and economic changes.

---

Definitions:

Leadership Success

The effectiveness of a leader measured by the ability to achieve objectives, inspire followers, and adapt to change.

Myers-Briggs Type Indicator

A psychological assessment tool that identifies a person's personality type based on four dichotomies.

Internalizing Information

The process of absorbing and comprehending information so that it becomes part of one's knowledge base or belief system.

Preference

A predisposition or inclination towards a particular choice or action among various alternatives.