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

A _____ financial goal takes up to two years to reach.

permanent

intermediate-term

short-term

long-term

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Verified step by step guidance

Understand the concept of financial goals: Financial goals are categorized based on the time frame required to achieve them. Common categories include short-term, intermediate-term, and long-term goals.

Define short-term financial goals: These are goals that typically take up to two years to achieve. Examples include saving for a vacation, buying a new gadget, or paying off small debts.

Define intermediate-term financial goals: These are goals that usually take between two to five years to accomplish. Examples include saving for a car or funding a portion of higher education.

Define long-term financial goals: These are goals that require more than five years to achieve. Examples include saving for retirement, purchasing a home, or funding a child's college education.

Match the time frame to the correct term: Since the problem specifies a financial goal that takes up to two years to reach, this aligns with the definition of a short-term financial goal.