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 is NOT considered a source document in accounting?

Sales invoice

Bank statement

Ledger account

Purchase order

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Verified step by step guidance

Understand the concept of a source document: A source document in accounting is a physical or digital record that provides evidence of a financial transaction. Examples include sales invoices, bank statements, and purchase orders.

Review the options provided: Sales invoice, bank statement, ledger account, and purchase order.

Analyze each option: Sales invoices, bank statements, and purchase orders are all examples of source documents because they provide direct evidence of transactions.

Consider the ledger account: A ledger account is not a source document. It is a record within the accounting system where transactions are posted after being recorded from source documents.

Conclude that the correct answer is 'Ledger account' because it is not a source document but rather a tool used to organize and summarize financial data.