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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Before taking on a business opportunity, one should know if there is which of the following for a product?

Excess inventory

Low employee turnover

Sufficient market demand

High production cost

Previous problemNext problem

Verified step by step guidance

Understand the concept of market demand: Market demand refers to the total quantity of a product or service that consumers are willing and able to purchase at a given price over a specific period. It is a critical factor in determining the viability of a business opportunity.

Analyze why sufficient market demand is essential: Without sufficient market demand, a product may not generate enough sales to cover costs or achieve profitability, making the business opportunity unsustainable.

Evaluate the other options provided: Excess inventory indicates overproduction or lack of sales, which is a negative factor. Low employee turnover is related to workforce stability but does not directly impact the viability of a product. High production cost can reduce profitability and is also a negative factor.

Recognize that sufficient market demand is the correct answer: It ensures that there is a customer base willing to purchase the product, which is fundamental for the success of any business opportunity.

Apply this understanding to decision-making: Before pursuing a business opportunity, conduct market research to assess demand, identify target customers, and ensure the product aligns with consumer needs and preferences.