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

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Multiple Choice

Which of the following is a primary advantage of using online budgeting apps compared to traditional pen-and-paper budgeting methods?

Online budgeting apps can automatically track and categorize expenses in real time.

Pen-and-paper budgeting provides automatic alerts for overspending.

Pen-and-paper budgeting allows for instant synchronization with bank accounts.

Online budgeting apps require no internet connection to function.

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Verified step by step guidance

Understand the question: The problem is asking about the advantages of online budgeting apps compared to traditional pen-and-paper methods. Focus on the features and functionalities of each method.

Analyze the options provided: Review each statement carefully to determine which features are unique to online budgeting apps and which are not applicable to pen-and-paper methods.

Evaluate the first option: Online budgeting apps can automatically track and categorize expenses in real time. This is a key feature of online apps that pen-and-paper methods cannot provide.

Evaluate the second and third options: Pen-and-paper budgeting does not provide automatic alerts for overspending or instant synchronization with bank accounts. These features are typically associated with online apps.

Evaluate the fourth option: Online budgeting apps generally require an internet connection to function, so the statement that they do not require internet is incorrect. Conclude that the first option is the correct answer.