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 describes a written document that details how a business will be structured, managed, run, and grown?

Articles of incorporation

Business plan

Partnership agreement

Operating budget

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Verified step by step guidance

Understand the purpose of each document listed in the options. For example, a business plan is a comprehensive document that outlines the structure, management, operations, and growth strategy of a business.

Analyze the term 'Articles of incorporation.' This document is used to legally establish a corporation and includes details such as the company's name, purpose, and structure.

Review the term 'Partnership agreement.' This document outlines the terms and conditions agreed upon by partners in a business, including profit-sharing and responsibilities.

Examine the term 'Operating budget.' This is a financial plan that estimates revenues and expenses for a specific period, typically used for financial management rather than business structure.

Compare the descriptions and identify that the 'Business plan' is the document that best fits the description of detailing how a business will be structured, managed, run, and grown.