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

7. Receivables and Investments

Types of Receivables

Financial Accounting

7. Receivables and Investments

Types of Receivables

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 a long-term impact of having a good credit history?

Exemption from paying taxes

Immediate increase in monthly income

Lower interest rates on loans and credit cards

Automatic approval for all types of insurance

Previous problemNext problem

Verified step by step guidance

Understand the concept of credit history: Credit history is a record of a person's borrowing and repayment activities. It reflects their financial behavior and reliability in managing debt.

Identify the long-term impacts of a good credit history: A good credit history can lead to benefits such as lower interest rates on loans and credit cards, easier approval for loans, and better financial opportunities.

Analyze the options provided: Evaluate each option to determine if it aligns with the long-term benefits of a good credit history. For example, exemption from paying taxes and immediate increase in monthly income are not directly related to credit history.

Focus on the correct answer: Lower interest rates on loans and credit cards are a direct long-term benefit of having a good credit history, as lenders view individuals with good credit as less risky.

Conclude the analysis: A good credit history does not guarantee automatic approval for all types of insurance or other unrelated benefits. It primarily impacts financial products like loans and credit cards.