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

1. Why might an unbanked employee choose to use a payroll card over receiving a paper check?

Payroll cards provide immediate access to wages without the need for a bank account.

Payroll cards delay wage access compared to paper checks.

Payroll cards require employees to visit a bank to cash their wages.

Payroll cards are only available to employees with existing checking accounts.

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Verified step by step guidance

Understand the concept of payroll cards: Payroll cards are prepaid cards issued by employers that allow employees to access their wages directly without needing a bank account.

Compare payroll cards to paper checks: Paper checks require employees to physically cash or deposit them at a bank, which can be inconvenient for unbanked employees who lack access to banking services.

Recognize the benefits of payroll cards: Payroll cards provide immediate access to wages, eliminating the need for employees to visit a bank or wait for check clearance.

Evaluate the incorrect options: Payroll cards do not delay wage access compared to paper checks, do not require employees to visit a bank, and are not limited to employees with checking accounts.

Conclude why payroll cards are advantageous for unbanked employees: They offer a convenient and accessible way to receive wages without relying on traditional banking systems.