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

Credit cards can help _____________ when paid off on time regularly.

build a positive credit history

reduce your credit score

increase your debt burden

incur late payment fees

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Verified step by step guidance

Understand the purpose of credit cards: Credit cards are financial tools that, when used responsibly, can help individuals build a positive credit history by demonstrating their ability to manage credit effectively.

Analyze the options provided: The correct answer should align with the benefits of responsible credit card usage, such as building a positive credit history, rather than negative outcomes like reducing credit scores, increasing debt burden, or incurring late payment fees.

Focus on the condition mentioned in the problem: The phrase 'when paid off on time regularly' is key. Paying off credit card balances on time avoids late payment fees, prevents debt accumulation, and positively impacts credit scores.

Eliminate incorrect options: 'Reduce your credit score,' 'increase your debt burden,' and 'incur late payment fees' are all negative outcomes that occur when credit cards are mismanaged, not when they are paid off on time regularly.

Select the correct answer: Based on the analysis, the correct answer is 'build a positive credit history,' as timely payments demonstrate financial responsibility to credit bureaus.