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

A corporation must create corporate ______ that are the operating procedures for the company.

resolutions

minutes

charters

bylaws

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Verified step by step guidance

Understand the question: The problem is asking about the operating procedures that a corporation must create. These procedures guide the company's operations and governance.

Review the options provided: The options are resolutions, minutes, charters, and bylaws. Each term has a specific meaning in corporate governance.

Clarify the concept of 'bylaws': Bylaws are the internal rules and procedures adopted by a corporation to govern its operations, including decision-making processes, roles of officers, and meeting protocols.

Differentiate the other terms: Resolutions are formal decisions made by the board or shareholders, minutes are records of meetings, and charters are legal documents that establish the corporation's existence.

Conclude that the correct answer is 'bylaws' because they specifically refer to the operating procedures for the company.