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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

The basic money supply (M1) in the United States consists primarily of:

Treasury bonds and corporate stocks

Savings accounts and certificates of deposit

Currency in circulation and checkable (demand) deposits

Gold reserves and foreign currency holdings

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Verified step by step guidance

Understand the concept of M1 money supply: M1 is a measure of the most liquid components of the money supply, which includes physical currency and demand deposits that can be quickly converted to cash for transactions.

Eliminate incorrect options: Treasury bonds and corporate stocks are not part of M1 because they are not liquid enough for immediate transactions.

Further eliminate savings accounts and certificates of deposit: These are part of M2, a broader measure of the money supply, but not M1 because they are not immediately accessible without penalties or delays.

Clarify why gold reserves and foreign currency holdings are not included: These are assets held by central banks and are not part of the money supply available for public transactions.

Conclude that M1 consists of currency in circulation (physical cash) and checkable (demand) deposits, as these are the most liquid forms of money used for everyday transactions.