10 Questions
Checking accounts are only available at brick-and-mortar banks and credit unions.
False
There are multiple checking account options designed to fit a variety of banking needs.
True
Bank accounts do not offer convenience, safety, and security for your money.
False
Different types of bank accounts can serve the same purpose depending on your needs.
False
Some bank accounts are designed for short- or long-term savings.
True
Goodwill is an easy concept to evaluate on a company's balance sheet
False
Investors may need to determine if a company's stated goodwill is justified by scrutinizing its balance sheet
True
Acquirers in a business combination may pay more for a business than the sum of the fair values of the individual assets and liabilities
True
Goodwill can be based on brand recognition and customer loyalty of the company acquired
True
The true value of a company's goodwill is always accurately stated on its balance sheet
False
Study Notes
Bank Accounts
- Available at brick-and-mortar banks and credit unions
- Multiple options to fit various banking needs
- Provide convenience, safety, and security for money
- Can serve different purposes based on individual needs
- Designed for short- or long-term savings
Goodwill
- May be based on brand recognition and customer loyalty of acquired company
- May be overstated on balance sheet, requiring scrutiny by investors
- Acquirers may pay more for a business than the sum of individual assets and liabilities
- Not always accurately stated on balance sheet
Test your knowledge about the different types of bank accounts available, from savings accounts to checking accounts and more. Learn about the purposes and features of each type of account.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
