Multiple Choice
7. Which type of accounting would be most relevant for a company evaluating whether Lily can obtain a title loan while still paying off her vehicle loan, and why?
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1. Introduction to Accounting
Types of Accounting
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Financial law does not include laws dealing with which of the following savings and investment channels?
A
Personal piggy banks kept at home
B
Bank savings accounts
C
Mutual funds
D
Government bonds
Verified step by step guidance1
Understand the scope of financial law: Financial law typically governs formal financial systems and institutions, such as banks, investment funds, and government-issued securities.
Identify the savings and investment channels listed in the problem: Personal piggy banks kept at home, bank savings accounts, mutual funds, and government bonds.
Analyze each option: Personal piggy banks kept at home are informal and not regulated by financial law, whereas bank savings accounts, mutual funds, and government bonds are formal channels governed by financial regulations.
Clarify why personal piggy banks are excluded: Since they are private and informal, they do not fall under the purview of financial law, which focuses on regulated financial systems.
Conclude that financial law does not include laws dealing with personal piggy banks kept at home, as they are outside the scope of formal financial systems.
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