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

A business associate is a person or entity that performs which of the following functions on behalf of a business?

Personal tax preparation for employees

Services or activities involving the use or disclosure of financial information

Only internal auditing for the business

Direct sales of products to customers

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Verified step by step guidance

Understand the concept of a business associate: A business associate is a person or entity that performs services or activities on behalf of a business, particularly involving the use or disclosure of financial or sensitive information.

Analyze the options provided in the question to determine which aligns with the definition of a business associate.

Option 1: 'Personal tax preparation for employees' - This does not involve the business's financial information directly but rather individual employee matters, so it does not fit the definition.

Option 2: 'Services or activities involving the use or disclosure of financial information' - This directly aligns with the definition of a business associate, as it involves handling financial information on behalf of the business.

Option 3: 'Only internal auditing for the business' and Option 4: 'Direct sales of products to customers' - These are internal functions or direct customer interactions, not services performed by an external entity involving financial information disclosure. Therefore, they do not fit the definition.