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

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Multiple Choice

One cost of starting your own business is _____.

interest earned on savings

tax refunds

dividends received from stocks

initial capital investment

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Verified step by step guidance

Understand the concept of 'initial capital investment': This refers to the funds required to start a business, including costs for equipment, inventory, licenses, and other startup expenses.

Recognize that starting a business involves allocating resources, which may include personal savings or loans, to cover these initial costs.

Differentiate between the options provided: 'interest earned on savings,' 'tax refunds,' and 'dividends received from stocks' are not direct costs of starting a business but rather sources of income or financial benefits.

Identify that 'initial capital investment' is the correct answer because it represents the upfront financial commitment necessary to launch a business.

Conclude that understanding initial capital investment is crucial for financial planning and ensuring the business has sufficient resources to operate effectively.