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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following options in a table would violate the First Normal Form (1NF) rules of normalization in accounting data?

A column with only numeric values representing account balances

A column containing multiple invoice numbers separated by commas

A table where each row represents a single transaction

A column with unique customer IDs

Previous problemNext problem

Verified step by step guidance

Understand the concept of First Normal Form (1NF): In database normalization, 1NF requires that each column in a table contains atomic (indivisible) values, meaning no lists or sets of values are allowed within a single cell.

Analyze the options provided: Evaluate each option to determine whether it violates the 1NF rule by containing non-atomic values.

Option 1: 'A column with only numeric values representing account balances' - This does not violate 1NF because each cell contains a single numeric value, which is atomic.

Option 2: 'A column containing multiple invoice numbers separated by commas' - This violates 1NF because the cell contains multiple values (invoice numbers) separated by commas, which is not atomic.

Option 3: 'A table where each row represents a single transaction' and Option 4: 'A column with unique customer IDs' - Both of these options comply with 1NF as they ensure atomicity and uniqueness in their respective contexts.