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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which type of stock represents the most basic form of ownership in a corporation?

Treasury stock

Convertible bonds

Common stock

Preferred stock

Previous problemNext problem

Verified step by step guidance

Understand the concept of stock ownership in a corporation. Stock represents equity ownership, and there are different types of stock with varying rights and privileges.

Learn about common stock. Common stock is the most basic form of ownership in a corporation. It typically grants voting rights to shareholders and entitles them to a share of the company's profits through dividends, if declared.

Compare common stock with preferred stock. Preferred stock generally has priority over common stock in terms of dividend payments and claims on assets during liquidation, but it often lacks voting rights.

Understand why treasury stock is not a type of ownership. Treasury stock refers to shares that a corporation has repurchased from shareholders and holds in its treasury. These shares do not confer ownership rights while held by the corporation.

Recognize that convertible bonds are not stock. Convertible bonds are debt instruments that can be converted into equity (common stock) at a later date, but they do not represent ownership until converted.