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 government regulations would a business most likely avoid if it no longer had employees?

Payroll tax withholding requirements

Income tax filing for the business

Sales tax collection on goods sold

Environmental protection regulations

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Verified step by step guidance

Understand the context of the problem: The question is asking which government regulation a business would most likely avoid if it no longer had employees. This requires identifying regulations specifically tied to having employees.

Review the options provided: Analyze each regulation to determine its connection to employees. For example, payroll tax withholding requirements are directly related to employee wages, while income tax filing, sales tax collection, and environmental protection regulations are broader and not necessarily tied to having employees.

Focus on payroll tax withholding requirements: These are taxes that employers are required to withhold from employees' wages (e.g., Social Security, Medicare, and federal income tax). If a business no longer has employees, it would not need to withhold or remit these taxes.

Eliminate unrelated regulations: Income tax filing for the business, sales tax collection, and environmental protection regulations are obligations that exist regardless of whether the business has employees. These are not directly tied to employment.

Conclude that payroll tax withholding requirements are the regulation most likely avoided if the business no longer has employees, as they are specifically tied to employee wages.