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

A series of equal cash flows occurring at regular intervals is called a(n):

depreciation

equity

liability

annuity

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Verified step by step guidance

Understand the concept of an annuity: An annuity refers to a series of equal cash flows occurring at regular intervals over a specified period of time. These cash flows can be payments or receipts, and they are commonly used in financial accounting and investment scenarios.

Differentiate between the given options: Depreciation refers to the allocation of the cost of a tangible asset over its useful life. Equity represents the ownership interest in a company, and liability refers to obligations or debts owed by a company. None of these terms describe a series of equal cash flows at regular intervals.

Recognize the defining characteristics of an annuity: The key features of an annuity are regular intervals (e.g., monthly, annually) and equal cash flows. Examples include loan payments, lease payments, or investment returns.

Apply the definition to the problem: Since the problem describes a series of equal cash flows occurring at regular intervals, it matches the definition of an annuity.

Conclude that the correct answer is 'annuity' based on the explanation and elimination of other options.