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

Which of the following is a characteristic of value in accounting?

Depreciation

Amortization

Objectivity

Liquidity

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Verified step by step guidance

Understand the concept of 'value' in accounting, which refers to the measurement of financial elements based on objective and reliable criteria.

Review the term 'Objectivity' in accounting, which ensures that financial information is based on unbiased evidence rather than personal opinions or estimates.

Compare 'Objectivity' with other terms provided in the options, such as 'Depreciation,' 'Amortization,' and 'Liquidity,' which are specific accounting processes or measures but do not directly define the characteristic of value.

Recognize that 'Depreciation' and 'Amortization' are methods of allocating costs over time, and 'Liquidity' refers to the ability to convert assets into cash, none of which directly relate to the characteristic of value.

Conclude that 'Objectivity' is the correct answer because it aligns with the principle of providing reliable and unbiased financial information, which is a fundamental characteristic of value in accounting.