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 type of accounting is primarily created to track and evaluate promotion activities?

Marketing accounting

Financial accounting

Cost accounting

Managerial accounting

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Verified step by step guidance

Understand the purpose of each type of accounting mentioned in the options. For example, Financial Accounting focuses on external reporting, Cost Accounting deals with tracking and analyzing costs, Managerial Accounting supports internal decision-making, and Marketing Accounting evaluates promotional activities.

Identify the key term in the question: 'promotion activities.' This indicates the focus is on tracking and evaluating costs and effectiveness related to marketing efforts.

Recall that Marketing Accounting is a specialized subset of accounting that deals with analyzing the financial impact of marketing campaigns, including promotions.

Eliminate options that do not align with the focus on promotional activities. For instance, Financial Accounting is primarily concerned with preparing financial statements for external stakeholders, which is not directly related to promotions.

Conclude that the correct type of accounting for tracking and evaluating promotion activities is Marketing Accounting, as it directly addresses the financial aspects of marketing efforts.