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

Savings and loan associations are sometimes known as:

Thrifts

Credit unions

Investment banks

Commercial banks

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Verified step by step guidance

Understand the concept: Savings and loan associations are financial institutions that primarily focus on accepting savings deposits and making mortgage loans. They are often referred to as 'thrifts' because of their emphasis on thriftiness and savings.

Compare the options: Analyze each term provided in the options to determine which one aligns with the characteristics of savings and loan associations.

Option 1 - Thrifts: This term is commonly used to describe savings and loan associations due to their focus on savings and mortgage lending.

Option 2 - Credit unions: These are member-owned financial cooperatives that provide similar services but are distinct from savings and loan associations in structure and purpose.

Option 3 and 4 - Investment banks and Commercial banks: These institutions serve different purposes, such as investment services and broader banking operations, and are not synonymous with savings and loan associations.