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

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Multiple Choice

Which of the following is considered an asset of the commercial banking system?

Customer deposits

Issued bonds

Shareholders' equity

Accounts receivable

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Verified step by step guidance

Understand the definition of an asset: In financial accounting, an asset is a resource owned or controlled by an entity that is expected to provide future economic benefits.

Analyze the options provided: Customer deposits, issued bonds, shareholders' equity, and accounts receivable. Determine which of these fits the definition of an asset.

Evaluate 'Customer deposits': These are liabilities for the bank because they represent amounts owed to customers, not resources owned by the bank.

Evaluate 'Issued bonds': Bonds issued by the bank are also liabilities because they represent debt obligations the bank must repay to bondholders.

Evaluate 'Accounts receivable': These are amounts owed to the bank by customers or other entities, representing a resource controlled by the bank that will provide future economic benefits, making it an asset.