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 events is considered a financial goal for a business organization?

Improving employee satisfaction

Increasing annual net income by 10%

Expanding office space

Launching a new product line

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Verified step by step guidance

Understand the concept of a financial goal: A financial goal for a business organization is typically related to measurable financial outcomes, such as revenue, profit, or cost management, rather than non-financial objectives like employee satisfaction or operational changes.

Analyze each option provided in the problem: Evaluate whether each event aligns with the definition of a financial goal. For example, improving employee satisfaction is a non-financial goal, while increasing annual net income by 10% is a measurable financial target.

Identify the correct answer: Increasing annual net income by 10% is a financial goal because it directly relates to the organization's financial performance and is quantifiable.

Explain why other options are not financial goals: Expanding office space and launching a new product line are operational or strategic goals, not directly tied to financial performance metrics.

Conclude the reasoning: A financial goal must be specific, measurable, and directly related to the financial outcomes of the business, which is why increasing annual net income by 10% is the correct answer.