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

Taylorism attempted to use scientific principles to better handle which aspect of business?

Tax compliance procedures

Labor management and efficiency

Inventory valuation methods

Financial reporting standards

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Verified step by step guidance

Understand the concept of Taylorism: Taylorism, also known as scientific management, is a theory developed by Frederick Winslow Taylor. It focuses on improving labor productivity and efficiency through systematic observation and analysis of work processes.

Identify the key aspect of business Taylorism addresses: Taylorism is primarily concerned with labor management and efficiency, aiming to optimize workflows, reduce waste, and increase productivity.

Eliminate unrelated options: Tax compliance procedures, inventory valuation methods, and financial reporting standards are not directly related to the principles of Taylorism.

Focus on the correct answer: Taylorism applies scientific principles to labor management and efficiency, making it the correct choice in this context.

Review the reasoning: Ensure the understanding that Taylorism is about improving worker performance and operational efficiency, not financial or tax-related aspects of business.