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

Which type of business organization purchases goods from manufacturers and sells them to retailers?

Retailer

Service provider

Wholesaler

Manufacturer

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Verified step by step guidance

Understand the types of business organizations: Retailers sell goods directly to consumers, service providers offer services rather than goods, manufacturers produce goods, and wholesalers act as intermediaries by purchasing goods from manufacturers and selling them to retailers.

Identify the role described in the problem: The organization purchases goods from manufacturers and sells them to retailers.

Match the description to the correct type of business organization: Wholesalers fit this role as they act as intermediaries between manufacturers and retailers.

Eliminate other options: Retailers sell directly to consumers, service providers do not deal with goods, and manufacturers produce goods rather than distribute them.

Conclude that the correct answer is 'Wholesaler' based on the description provided in the problem.