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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following is a main advantage of a secured loan compared to an unsecured loan?

Secured loans do not require any collateral from the borrower.

Secured loans never require a credit check.

Secured loans typically offer lower interest rates due to reduced lender risk.

Secured loans are always easier to obtain than unsecured loans, regardless of credit history.

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Verified step by step guidance

Understand the difference between secured and unsecured loans: A secured loan is backed by collateral, such as property or assets, which reduces the lender's risk. An unsecured loan does not require collateral, making it riskier for the lender.

Analyze the advantages of secured loans: Since secured loans involve collateral, lenders face less risk, which often results in lower interest rates compared to unsecured loans.

Evaluate the options provided in the question: Determine which statements align with the characteristics of secured loans. For example, secured loans typically offer lower interest rates due to reduced lender risk.

Eliminate incorrect options: For instance, the statement 'Secured loans do not require any collateral from the borrower' is incorrect because collateral is a defining feature of secured loans.

Select the correct answer: Based on the analysis, the correct advantage of secured loans is that they typically offer lower interest rates due to reduced lender risk.