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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Which of the following statements best describes the difference between money market accounts and money market mutual funds regarding federal deposit insurance?

Neither money market accounts nor money market mutual funds are insured by the FDIC.

Money market mutual funds are insured by the FDIC, while money market accounts are not insured.

Money market accounts are insured by the FDIC, while money market mutual funds are not insured.

Both money market accounts and money market mutual funds are insured by the FDIC.

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Verified step by step guidance

Understand the concept of federal deposit insurance: The Federal Deposit Insurance Corporation (FDIC) provides insurance coverage for certain types of deposit accounts held at banks and savings institutions, protecting depositors against the loss of their funds in case of bank failure.

Define money market accounts: Money market accounts are interest-bearing deposit accounts offered by banks and credit unions. They typically provide higher interest rates than regular savings accounts and are insured by the FDIC up to the applicable limits.

Define money market mutual funds: Money market mutual funds are investment funds that pool money from multiple investors to purchase short-term, low-risk securities such as Treasury bills and commercial paper. These funds are not deposit accounts and are not insured by the FDIC.

Compare the two: Money market accounts are insured by the FDIC, providing protection to depositors, while money market mutual funds are not insured by the FDIC, as they are considered investment products rather than deposit accounts.

Conclude the distinction: The correct statement is that money market accounts are insured by the FDIC, while money market mutual funds are not insured. This highlights the difference in risk and protection between these two financial products.