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

Student loans you take out to pay for college are almost impossible to:

Consolidate with credit card debt

Discharge through bankruptcy

Transfer to another student

Use to pay for non-educational expenses

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Verified step by step guidance

Understand the nature of student loans: Student loans are a type of debt specifically designed to finance educational expenses, and they come with unique legal protections and restrictions compared to other types of debt.

Learn about bankruptcy and its impact on debts: Bankruptcy is a legal process that allows individuals or businesses to eliminate or restructure debts. However, student loans are generally exempt from discharge in bankruptcy unless the borrower can prove 'undue hardship,' which is a very high standard to meet.

Compare student loans with other types of debt: Unlike credit card debt or personal loans, student loans are not easily consolidated or transferred to another individual. They are tied to the borrower and their educational purpose.

Understand the restrictions on student loan usage: Student loans are strictly intended for educational expenses, such as tuition, books, and living costs while attending school. Using them for non-educational expenses is prohibited and could lead to penalties.

Review the correct answer: Based on the unique characteristics of student loans, the correct answer is that they are almost impossible to discharge through bankruptcy, highlighting their distinct legal treatment.