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

Savings accounts typically offer more interest than which type of account?

Checking accounts

Retirement accounts

Money market accounts

Certificate of deposit (CD) accounts

Previous problemNext problem

Verified step by step guidance

Understand the context of the question: Savings accounts are a type of deposit account offered by banks and financial institutions that typically provide interest on the balance held in the account.

Compare the features of savings accounts with checking accounts: Checking accounts are primarily designed for frequent transactions and typically offer little to no interest. Savings accounts generally provide higher interest rates than checking accounts.

Analyze retirement accounts: Retirement accounts, such as IRAs or 401(k)s, are designed for long-term savings and investment, often offering higher returns than savings accounts due to investment options. Savings accounts usually do not offer more interest than retirement accounts.

Evaluate money market accounts: Money market accounts are similar to savings accounts but often provide higher interest rates and may have higher minimum balance requirements. Savings accounts typically offer less interest than money market accounts.

Consider certificate of deposit (CD) accounts: CDs are time deposit accounts that lock in funds for a specific period in exchange for higher interest rates. Savings accounts generally offer lower interest rates compared to CDs.