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

Consumer finance companies, which are often advertised on TV, are also known as:

Credit unions

Investment banks

Personal loan companies

Savings and loan associations

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Verified step by step guidance

Understand the concept of consumer finance companies: These are institutions that provide loans to individuals for personal use, such as purchasing goods, consolidating debt, or covering unexpected expenses.

Review the options provided: Credit unions, investment banks, personal loan companies, and savings and loan associations.

Clarify the role of each option: Credit unions are member-owned financial cooperatives offering banking services; investment banks focus on corporate financial services like underwriting and mergers; savings and loan associations primarily deal with residential mortgages.

Identify the correct match: Consumer finance companies specialize in providing personal loans, which aligns with the description of personal loan companies.

Conclude that the correct answer is 'Personal loan companies' based on their function of offering personal loans to consumers.