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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is NOT considered an element of the business environment?

Technological factors

Personal hobbies

Legal and regulatory factors

Economic factors

Previous problemNext problem

Verified step by step guidance

Understand the concept of the business environment: The business environment refers to external and internal factors that influence a company's operations, decision-making, and overall success. These factors are typically categorized into economic, legal, technological, social, and competitive elements.

Review the options provided: The options include 'Technological factors,' 'Personal hobbies,' 'Legal and regulatory factors,' and 'Economic factors.'

Analyze each option: Technological factors, legal and regulatory factors, and economic factors are all widely recognized as elements of the business environment because they directly impact business operations and strategies.

Consider the relevance of 'Personal hobbies': Personal hobbies are individual interests and activities that do not typically influence or interact with the broader business environment. They are not considered a formal element of the business environment.

Conclude that 'Personal hobbies' is the correct answer: Based on the analysis, 'Personal hobbies' is not an element of the business environment, as it does not align with the external or internal factors that affect business operations.