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

All of the following are lenders in the primary mortgage market except:

Commercial banks

Credit unions

Savings and loan associations

Mortgage brokers

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Understand the primary mortgage market: The primary mortgage market is where loans are originated, and lenders provide funds directly to borrowers for purchasing real estate.

Identify the typical lenders in the primary mortgage market: These include commercial banks, credit unions, and savings and loan associations, as they directly provide loans to borrowers.

Clarify the role of mortgage brokers: Mortgage brokers act as intermediaries between borrowers and lenders. They do not lend money directly but help borrowers find suitable lenders.

Compare the roles: While commercial banks, credit unions, and savings and loan associations are direct lenders in the primary mortgage market, mortgage brokers are not considered lenders because they do not provide funds themselves.

Conclude the distinction: Based on the roles, mortgage brokers are not lenders in the primary mortgage market, which makes them the correct answer to the question.