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

Interest and dividends are classified as what type of income in financial accounting?

Capital income

Deferred income

Operating income

Non-operating income

Previous problemNext problem

Verified step by step guidance

Understand the classification of income in financial accounting. Income is generally categorized into operating income and non-operating income based on its source.

Operating income refers to the revenue generated from the core business activities of a company, such as sales of goods or services.

Non-operating income includes revenue that is not derived from the primary operations of the business. Examples include interest earned on investments and dividends received from other companies.

Analyze the given options: Capital income refers to funds raised for long-term investments, deferred income is revenue received in advance but not yet earned, and operating income is related to core business activities.

Conclude that interest and dividends are classified as non-operating income because they are not generated from the company's primary business operations.