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

A product blank______ is a specific product that has a unique brand, size, or price. Which term best completes the sentence?

line

category

group

item

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Verified step by step guidance

Step 1: Understand the context of the question. The sentence is describing a specific product that has unique attributes such as brand, size, or price.

Step 2: Analyze the options provided: 'line,' 'category,' 'group,' and 'item.' Each term has a distinct meaning in business and accounting contexts.

Step 3: Define the term 'item' in this context. In financial accounting and marketing, a product item refers to a specific product with unique characteristics, such as a particular brand, size, or price.

Step 4: Compare the term 'item' with the other options. 'Line' refers to a group of related products, 'category' refers to a classification of products, and 'group' is a broader term that may not specify unique attributes.

Step 5: Conclude that 'item' is the most appropriate term to complete the sentence, as it aligns with the description of a specific product with unique attributes.