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

Retirement savings can be invested in which of the following assets?

Stocks

Personal automobiles

Groceries

Household furniture

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Verified step by step guidance

Understand the concept of retirement savings: Retirement savings are funds set aside to provide income during retirement. These funds are typically invested in assets that can grow over time or provide steady income.

Identify the characteristics of suitable investment assets: Suitable assets for retirement savings should have the potential for growth, income generation, or preservation of value. Examples include stocks, bonds, mutual funds, and real estate.

Evaluate each option provided in the question: Stocks are a common investment for retirement savings due to their potential for long-term growth. Personal automobiles, groceries, and household furniture are not investment assets; they are consumable or depreciating items.

Recognize why stocks are the correct answer: Stocks represent ownership in companies and can appreciate in value over time, making them a suitable choice for retirement savings. The other options do not align with the purpose of retirement savings.

Conclude that stocks are the appropriate asset for retirement savings based on their growth potential and alignment with financial goals for retirement.