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

Which of the following is a positive aspect of using a credit card?

Immediate increase in personal debt

Higher interest payments on all purchases

Limited purchase protection

Ability to build a credit history

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Verified step by step guidance

Understand the concept of credit history: Credit history is a record of a person's borrowing and repayment activities. It is used by lenders to assess the creditworthiness of an individual.

Recognize the positive aspect of using a credit card: One of the benefits of using a credit card responsibly is the ability to build a credit history, which can help in obtaining loans or other financial products in the future.

Evaluate the options provided: Immediate increase in personal debt and higher interest payments are negative aspects of credit card usage, while limited purchase protection is a neutral or minor benefit compared to building credit history.

Identify the correct answer: The ability to build a credit history is the positive aspect of using a credit card, as it can improve financial opportunities over time.

Conclude the reasoning: Using a credit card responsibly, such as making timely payments and keeping balances low, contributes to a strong credit history, which is beneficial for long-term financial health.