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 type of accounting is primarily concerned with planning and promoting the sale of goods or services by advertising them or displaying them attractively?

Managerial Accounting

This activity is not a function of accounting, but rather of marketing.

Financial Accounting

Marketing Accounting

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Verified step by step guidance

Step 1: Begin by understanding the primary functions of each type of accounting mentioned in the problem. Financial Accounting focuses on recording, summarizing, and reporting financial transactions to external stakeholders. Managerial Accounting is concerned with providing information to internal stakeholders for decision-making purposes.

Step 2: Recognize that the activity described in the problem—planning and promoting the sale of goods or services by advertising or displaying them attractively—is not related to the core functions of accounting.

Step 3: Understand that this activity falls under the domain of marketing, which is responsible for promoting and selling products or services, rather than accounting.

Step 4: Clarify that there is no such thing as 'Marketing Accounting' as a recognized type of accounting. Marketing is a separate business function entirely.

Step 5: Conclude that the correct answer is that this activity is not a function of accounting, but rather of marketing, as it deals with advertising and promotion rather than financial or managerial accounting tasks.