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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Which of the following lists the correct steps in the business intelligence process?

Data collection, data analysis, decision making, and action

Transaction recording, financial statement preparation, tax filing, and auditing

Inventory management, sales forecasting, product development, and marketing

Budgeting, auditing, reporting, and investing

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Verified step by step guidance

Step 1: Understand the context of the question, which is asking about the correct steps in the business intelligence process. Business intelligence involves using data to make informed decisions and take action.

Step 2: Analyze each option provided in the question to determine which aligns with the typical business intelligence process. The process generally includes collecting data, analyzing it, making decisions based on the analysis, and taking action.

Step 3: Evaluate the first option: 'Data collection, data analysis, decision making, and action.' This sequence matches the standard business intelligence process, as it involves gathering data, analyzing it, making decisions, and implementing those decisions.

Step 4: Review the other options to confirm they do not align with the business intelligence process. For example, 'Transaction recording, financial statement preparation, tax filing, and auditing' pertains to accounting processes, not business intelligence.

Step 5: Conclude that the correct steps in the business intelligence process are 'Data collection, data analysis, decision making, and action,' as this sequence accurately reflects the purpose and methodology of business intelligence.