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

Business is about ___________ managing business functions.

passively

effectively

occasionally

randomly

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Verified step by step guidance

Step 1: Understand the context of the question. The question is asking about how businesses manage their functions, which relates to the concept of effective management in Financial Accounting and business operations.

Step 2: Analyze the options provided. The options are 'passively,' 'effectively,' 'occasionally,' and 'randomly.' Consider the meaning of each term in the context of business management.

Step 3: Recall the principles of business management. Effective management involves planning, organizing, directing, and controlling resources to achieve organizational goals efficiently and effectively.

Step 4: Eliminate incorrect options. 'Passively,' 'occasionally,' and 'randomly' do not align with the principles of effective business management, as they imply a lack of consistent and purposeful action.

Step 5: Select the correct answer based on the analysis. The term 'effectively' best describes how businesses should manage their functions to ensure success and sustainability.