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

Which of the following best describes the primary goal of a credit bureau?

To offer loans directly to consumers

To collect and provide credit information to lenders for assessing borrowers' creditworthiness

To regulate interest rates in the financial market

To prepare financial statements for corporations

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Verified step by step guidance

Understand the role of a credit bureau: A credit bureau is an organization that collects, maintains, and provides credit information about individuals and businesses to lenders and other entities.

Clarify the primary goal: The main purpose of a credit bureau is to help lenders assess the creditworthiness of borrowers by providing detailed credit reports and scores.

Eliminate incorrect options: Review the options provided and identify which ones do not align with the role of a credit bureau. For example, offering loans directly to consumers or regulating interest rates are not functions of a credit bureau.

Focus on the correct option: The correct answer is the one that describes the credit bureau's role in collecting and providing credit information to lenders for assessing borrowers' creditworthiness.

Summarize the reasoning: The credit bureau acts as a central repository of credit data, enabling lenders to make informed decisions about granting loans or extending credit based on the borrower's financial history and reliability.