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 is most likely to use an on-premises business management system?

Nonprofit organizations with limited IT budgets

Small sole proprietorships with minimal transactions

Freelancers working independently

Large corporations with complex operations

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Verified step by step guidance

Understand the context of the question: The problem is asking about the type of business organization that is most likely to use an on-premises business management system. This system is typically installed and maintained on the organization's own servers rather than being cloud-based.

Analyze the characteristics of an on-premises system: These systems are generally more expensive to implement and maintain, requiring significant IT infrastructure and expertise. They are often chosen by organizations with complex operations and high data security needs.

Evaluate the options provided: Nonprofit organizations with limited IT budgets, small sole proprietorships with minimal transactions, and freelancers working independently are less likely to have the resources or operational complexity to justify an on-premises system.

Focus on the correct option: Large corporations with complex operations are more likely to use an on-premises system because they have the financial resources, IT infrastructure, and operational needs that align with the benefits of such a system.

Conclude the reasoning: The correct answer is 'Large corporations with complex operations' because they are best suited to handle the costs and requirements of an on-premises business management system while benefiting from its capabilities.