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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Which of the following is NOT considered to be a business’s responsibility?

Providing safe working conditions for employees

Maximizing shareholder value

Complying with legal regulations

Ensuring personal financial gain for individual managers

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Understand the concept of business responsibilities: Businesses have ethical, legal, and financial obligations to various stakeholders, including employees, shareholders, and society.

Review each option provided in the question: Analyze whether each option aligns with the general responsibilities of a business.

Option 1: 'Providing safe working conditions for employees' - This is a fundamental ethical and legal responsibility of businesses to ensure the safety and well-being of their workforce.

Option 2: 'Maximizing shareholder value' - This is a financial responsibility of businesses, as shareholders invest in the company expecting returns on their investment.

Option 3: 'Complying with legal regulations' - Businesses are required to adhere to laws and regulations to operate legally and ethically. The option 'Ensuring personal financial gain for individual managers' is not a business responsibility, as it focuses on personal benefit rather than the collective goals of the organization.