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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Which of the following documents shows the path of ownership of a property?

Balance sheet

Title deed

Purchase order

Income statement

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Verified step by step guidance

Step 1: Understand the purpose of each document listed in the options. A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time. It does not track ownership of property.

Step 2: Recognize that a purchase order is a document used in procurement to request goods or services from a supplier. It does not establish ownership of property.

Step 3: Note that an income statement is another financial statement that shows a company's revenues, expenses, and profits over a period of time. It does not relate to property ownership.

Step 4: Learn that a title deed is a legal document that serves as evidence of ownership of a property. It shows the path of ownership and is used in property transactions.

Step 5: Conclude that the correct document that shows the path of ownership of a property is the title deed.