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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

If gasoline costs $2.50 per gallon, how many miles could be traveled in a car on $30 if the car averages 25 miles per gallon?

300 miles

150 miles

250 miles

200 miles

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Verified step by step guidance

Step 1: Identify the cost of gasoline per gallon, which is $2.50, and the total amount of money available for gasoline, which is $30.

Step 2: Calculate the number of gallons of gasoline that can be purchased with $30 by dividing the total money available by the cost per gallon. Use the formula:

\frac{30}{2.50}

Step 3: Determine the car's fuel efficiency, which is 25 miles per gallon. Multiply the number of gallons obtained in Step 2 by the car's fuel efficiency to find the total miles that can be traveled. Use the formula: