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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Why is a high credit score not necessarily an indication that you are 'winning with money'?

A high credit score is only possible if you never use credit cards or take out loans.

A high credit score guarantees that you have significant savings and investments.

A high credit score mainly reflects your ability to manage debt, not your overall financial health.

A high credit score means you have no outstanding loans or credit card balances.

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Verified step by step guidance

Understand the concept of a credit score: A credit score is a numerical representation of your creditworthiness, primarily based on your history of managing debt, including loans and credit cards.

Recognize the factors that contribute to a high credit score: These include timely payments, low credit utilization, a long credit history, and a mix of credit types. However, these factors focus on debt management rather than overall financial health.

Clarify the misconception: A high credit score does not necessarily mean you have significant savings, investments, or no outstanding loans. It reflects your ability to manage debt responsibly, not your overall financial success.

Evaluate the statement: The correct answer highlights that a high credit score mainly reflects your ability to manage debt, not your overall financial health. This distinction is important in understanding the limitations of what a credit score represents.

Conclude with financial health: True financial health includes factors like savings, investments, and the ability to meet financial goals, which are not directly measured by a credit score.