Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

A home mortgage is usually borrowed for how long?

1 to 3 years

15 to 30 years

40 to 50 years

5 to 7 years

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Verified step by step guidance

Understand the concept of a home mortgage: A home mortgage is a loan taken out to purchase a home, where the property serves as collateral for the loan.

Recognize that the term of a mortgage refers to the length of time over which the borrower agrees to repay the loan.

Identify typical mortgage terms: In financial accounting and real estate, home mortgages are commonly structured to be repaid over long periods, typically ranging from 15 to 30 years.

Compare the options provided in the question: Evaluate each option against the standard mortgage term lengths. The options 1 to 3 years, 40 to 50 years, and 5 to 7 years are not typical for home mortgages.

Conclude that the correct answer aligns with the standard mortgage term of 15 to 30 years, as this is the most common duration for home loans.