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

What do we call someone who takes the risk and enjoys the rewards of starting a new business?

Manager

Auditor

Shareholder

Entrepreneur

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Verified step by step guidance

Step 1: Understand the definition of an entrepreneur. An entrepreneur is someone who identifies a business opportunity, takes the risk of starting a new venture, and enjoys the potential rewards of success.

Step 2: Compare the term 'entrepreneur' with other options provided in the question. A manager oversees operations, an auditor reviews financial records, and a shareholder owns shares in a company but does not necessarily start the business.

Step 3: Recognize that the key aspect of entrepreneurship is taking the risk to start a new business, which distinguishes it from the other roles listed.

Step 4: Confirm that the correct answer aligns with the definition of an entrepreneur, as they are the ones who initiate and take responsibility for the business venture.

Step 5: Reinforce the understanding that entrepreneurship involves both risk-taking and the potential for rewards, which is central to the concept.