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

Which type of loan requires the borrower to put up collateral for the loan?

Unsecured loans

Revolving credit

Secured loans

Installment loans

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Verified step by step guidance

Understand the concept of collateral: Collateral is an asset that a borrower offers to a lender as security for a loan. If the borrower fails to repay the loan, the lender can seize the collateral to recover their losses.

Differentiate between secured and unsecured loans: Secured loans require collateral, while unsecured loans do not. Examples of secured loans include mortgages and auto loans, where the house or car serves as collateral.

Analyze the options provided: Unsecured loans do not require collateral, revolving credit is typically unsecured, and installment loans can be either secured or unsecured depending on the agreement.

Identify the correct type of loan: Secured loans explicitly require the borrower to put up collateral as a condition for obtaining the loan.

Conclude that the correct answer is 'Secured loans' based on the definition and characteristics of collateral-backed loans.