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

A corporation is formally formed with which of the following documents?

Partnership Agreement

Articles of Incorporation

Certificate of Deposit

Operating Agreement

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Verified step by step guidance

Understand the context: A corporation is a legal entity that is distinct from its owners and is formed under state law. To formally establish a corporation, specific legal documents are required.

Review the options provided: Partnership Agreement, Articles of Incorporation, Certificate of Deposit, and Operating Agreement. Each of these documents serves a different purpose in business formation or operations.

Clarify the purpose of each document: A Partnership Agreement is used to establish the terms of a partnership, not a corporation. A Certificate of Deposit is a financial instrument issued by banks, unrelated to corporate formation. An Operating Agreement is typically used for LLCs, not corporations.

Focus on the correct document: Articles of Incorporation are the legal documents filed with the state to formally create a corporation. They include key information such as the corporation's name, purpose, and structure.

Conclude the reasoning: Based on the definitions and purposes of the documents, the correct answer is Articles of Incorporation, as this is the document required to formally form a corporation.