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

All of the following would show up on a credit report except:

Payment history on credit cards

Outstanding loan balances

Bankruptcy filings

Types of accounting methods used by a business

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Verified step by step guidance

Understand the purpose of a credit report: A credit report is a detailed record of an individual's credit history, used by lenders to assess creditworthiness.

Identify the common elements included in a credit report: These typically include payment history, outstanding loan balances, bankruptcy filings, and other financial behaviors related to personal credit.

Recognize that the types of accounting methods used by a business are not related to personal credit history: Accounting methods (e.g., cash basis or accrual basis) pertain to how businesses record financial transactions, not individual credit behavior.

Clarify the distinction between personal credit information and business accounting practices: Personal credit reports focus on individual financial activities, while accounting methods are relevant to business financial reporting.

Conclude that the correct answer is 'Types of accounting methods used by a business,' as it does not pertain to personal credit history and would not appear on a credit report.