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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is true when comparing savings accounts and certificates of deposit (CDs)?

Certificates of deposit typically offer higher interest rates than savings accounts.

Savings accounts require a higher minimum deposit than certificates of deposit.

You can withdraw funds from a CD at any time without penalty, unlike savings accounts.

Savings accounts usually have a fixed maturity date, while CDs do not.

Previous problemNext problem

Verified step by step guidance

Understand the key differences between savings accounts and certificates of deposit (CDs). Savings accounts are typically more liquid, allowing withdrawals at any time, while CDs require funds to be locked in for a fixed term.

Recognize that CDs generally offer higher interest rates than savings accounts because they require a commitment to keep the money deposited for a specific period.

Note that savings accounts usually do not have a fixed maturity date, whereas CDs have a predetermined maturity date, after which the principal and interest are accessible.

Understand that withdrawing funds from a CD before its maturity date often incurs penalties, unlike savings accounts, which allow penalty-free withdrawals.

Compare the minimum deposit requirements: Savings accounts typically have lower minimum deposit requirements compared to CDs, which may require a higher initial deposit to open.