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

Which type of business organization is most suitable for a company that manufactures video games and wants to raise large amounts of capital from the public?

Sole proprietorship

Partnership

Limited liability partnership (LLP)

Corporation

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Verified step by step guidance

Understand the characteristics of each type of business organization: Sole proprietorship, Partnership, Limited Liability Partnership (LLP), and Corporation.

Recognize that a sole proprietorship is owned by one individual, has limited ability to raise capital, and is not suitable for large-scale operations.

Understand that a partnership involves two or more individuals sharing ownership, but it also has limited ability to raise capital and is not ideal for public fundraising.

Learn that a Limited Liability Partnership (LLP) provides limited liability to partners but is still not designed for raising large amounts of capital from the public.

Identify that a Corporation is a separate legal entity that can issue shares to the public, making it the most suitable option for raising large amounts of capital for a company manufacturing video games.