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 of the following is a retirement plan sponsored by an employer?

Health Savings Account (HSA)

Roth IRA

401(k) plan

Traditional IRA

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Verified step by step guidance

Understand the concept of retirement plans: A retirement plan is a financial arrangement designed to replace employment income upon retirement. These plans are often sponsored by employers to help employees save for their future.

Identify the key characteristics of employer-sponsored retirement plans: Employer-sponsored plans typically involve contributions from both the employer and the employee, tax advantages, and investment options. Examples include 401(k) plans and pension plans.

Analyze the options provided: Health Savings Account (HSA) is a medical savings account, not a retirement plan. Roth IRA and Traditional IRA are individual retirement accounts, not employer-sponsored plans.

Recognize the correct option: A 401(k) plan is a retirement plan sponsored by an employer, allowing employees to contribute a portion of their salary to the plan, often with employer matching contributions.

Conclude the reasoning: Based on the characteristics and definitions, the correct answer is the 401(k) plan, as it is the only employer-sponsored retirement plan among the options provided.