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

Why are financial values important when learning about personal finance, as emphasized in the EVERFI curriculum?

They help guide your financial decisions and set priorities for spending and saving.

They guarantee you will never make a financial mistake.

They are only relevant for business accounting, not personal finance.

They determine your credit score automatically.

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Verified step by step guidance

Understand the role of financial values in personal finance: Financial values represent your beliefs and priorities regarding money, which influence your decisions about spending, saving, and investing.

Recognize the importance of financial values in decision-making: They help you align your financial choices with your long-term goals, ensuring that your spending and saving habits reflect what matters most to you.

Differentiate financial values from other concepts: Financial values are not directly tied to business accounting or credit score determination. They are personal and guide individual financial behavior rather than automatic processes.

Evaluate the options provided in the question: Analyze each statement critically to determine which aligns with the purpose of financial values in personal finance. For example, financial values do not guarantee error-free decisions but help guide thoughtful choices.

Select the correct answer based on reasoning: The correct answer emphasizes that financial values help guide your financial decisions and set priorities for spending and saving, which is consistent with their role in personal finance.