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

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Multiple Choice

Which of the following best provides an overview of the employees and others that are part of a business?

Income statement

Statement of cash flows

Organizational chart

Balance sheet

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Verified step by step guidance

Understand the purpose of each financial statement mentioned in the problem: The income statement provides information about a company's revenues and expenses over a period of time, the statement of cash flows shows cash inflows and outflows, and the balance sheet presents the company's financial position at a specific point in time.

Recognize that none of these financial statements directly provide an overview of employees or organizational structure. Instead, they focus on financial data and performance.

Learn that an organizational chart is a visual representation of the structure of a business, showing the relationships and hierarchy among employees and departments.

Compare the organizational chart to the financial statements listed in the problem to confirm that it is the correct answer for providing an overview of employees and others in a business.

Conclude that the organizational chart is the best tool for understanding the structure and roles within a business, as it is not a financial statement but rather a management tool.