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

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Multiple Choice

Judd works in the warehouse at Home Depot. Which of the following is an example of an external equity pay comparison?

Comparing Judd's pay to the pay of warehouse workers at Lowe's.

Comparing Judd's pay to the pay of cashiers at Home Depot.

Comparing Judd's pay to the pay of his supervisor at Home Depot.

Comparing Judd's pay to his own pay from last year.

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Verified step by step guidance

Understand the concept of external equity pay comparison: External equity refers to comparing an employee's pay to the pay of employees in similar roles at other organizations or companies.

Analyze the options provided in the problem: The goal is to identify which comparison involves employees from outside the organization.

Option 1: Comparing Judd's pay to the pay of warehouse workers at Lowe's. This involves comparing Judd's pay to employees in a similar role at a different company, which aligns with external equity.

Option 2: Comparing Judd's pay to the pay of cashiers at Home Depot. This is an internal comparison within the same company, not external equity.

Option 3 and 4: Comparing Judd's pay to his supervisor's pay or his own pay from last year are also internal comparisons and do not involve external equity. Therefore, the correct example of external equity pay comparison is Option 1.