Table of contents

Skip topic navigation

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

The amount of time you have to pay back a loan is called the:

Amortization schedule

Grace period

Maturity period

Depreciation period

Previous problemNext problem

Verified step by step guidance

Understand the key terms in the question: 'Amortization schedule,' 'Grace period,' 'Maturity period,' and 'Depreciation period.' Each term has a specific meaning in financial accounting.

Define 'Maturity period': This is the amount of time given to repay a loan in full, including both principal and interest. It is the correct answer to the question.

Define 'Amortization schedule': This is a table that shows the breakdown of each loan payment into principal and interest over the life of the loan.

Define 'Grace period': This is a period after the loan is issued during which the borrower is not required to make payments. It is unrelated to the total time to repay the loan.

Define 'Depreciation period': This refers to the time over which an asset's cost is allocated for accounting purposes, and it is not related to loan repayment.