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

7. Receivables and Investments

Types of Receivables

Financial Accounting

7. Receivables and Investments

Types of Receivables

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Multiple Choice

One sign that your money will be safe in a savings account is if:

the account is insured by the FDIC or a similar government agency

the account offers the highest interest rate available

the account is held at a non-registered financial institution

the account is classified as an accounts receivable

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Verified step by step guidance

Understand the concept of FDIC insurance: The Federal Deposit Insurance Corporation (FDIC) is a government agency that protects depositors' money in case a bank fails. Accounts insured by the FDIC are considered safe because they guarantee the security of funds up to a certain limit.

Evaluate the options provided: Analyze each option to determine which one aligns with the concept of safety in a savings account. For example, accounts insured by the FDIC or similar agencies provide protection, while accounts offering high interest rates or held at non-registered institutions may not guarantee safety.

Eliminate incorrect options: Remove options that do not contribute to the safety of the savings account. For instance, accounts classified as accounts receivable are not savings accounts and do not offer FDIC insurance.

Focus on the correct answer: Identify the option that ensures the safety of the savings account, which is the account insured by the FDIC or a similar government agency.

Conclude the reasoning: Summarize why FDIC insurance or similar government agency protection is the most reliable indicator of a safe savings account, emphasizing the importance of government-backed guarantees.