Integrity Insurance entered into a reinsurance agreement with Omega Reinsurance. Under terms of the agreement, Omega receives 40 percent of the premiums and is responsible for 40 percent of the losses, regardless of the size of the policy written by Integrity. What type of reinsurance is illustrated in this scenario?

After writing off a customer's account, a company using the allowance method subsequently collected the account in full. It should:

Select one: A. Debit Cash and credit Accounts Receivable B. Debit Cash and credit Miscellaneous Income C. Debit Accounts Receivable and credit Allowance for Doubtful Accounts D. Both A and C

Which of the following is not a goal of the financial reform legislation that was created by the U.S. House of Representatives and Senate and signed into law by the president?

a. Encourage job growth. b. Tighten access to long-term financing by large corporations. c. End taxpayer bailouts. d. Protect consumers. e. Tighten regulations for major financial firms.