Table of contents

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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 federal tax return form is typically filed by a C Corporation in the United States?

Form 1065

Form 1120S

Form 1040

Form 1120

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Understand the different types of federal tax return forms and their purposes. Form 1065 is used by partnerships, Form 1120S is for S Corporations, and Form 1040 is for individual taxpayers.

Recognize that a C Corporation is a separate legal entity that pays corporate income tax and is required to file its own tax return.

Learn that the appropriate federal tax return form for a C Corporation is Form 1120, which is specifically designed for reporting income, deductions, and tax liability of C Corporations.

Note that Form 1120 includes sections for reporting gross income, deductions, credits, and calculating the corporation's taxable income and tax liability.

Ensure that the distinction between C Corporations and other entities like S Corporations or partnerships is clear, as each has its own specific tax filing requirements.