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 of the following are two primary activities commonly found in many businesses?

Taxation and Marketing activities

Budgeting and Auditing activities

Financing and Operating activities

Investing and Advertising activities

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Verified step by step guidance

Step 1: Understand the context of the question. The problem is asking about primary activities commonly found in many businesses. These activities are fundamental to the functioning and financial management of a business.

Step 2: Recall the three main categories of business activities in financial accounting: Operating activities, Investing activities, and Financing activities. These are the core activities that businesses engage in to generate revenue, manage resources, and fund operations.

Step 3: Operating activities involve the day-to-day functions of a business, such as selling goods or services, paying employees, and managing expenses. These activities are directly related to the production and delivery of goods or services.

Step 4: Financing activities involve transactions related to raising capital for the business, such as issuing shares, borrowing money, or repaying loans. These activities are essential for funding the operations and growth of the business.

Step 5: Compare the options provided in the question. Taxation, Marketing, Budgeting, Auditing, and Advertising are not categorized as primary activities in financial accounting. The correct answer is 'Financing and Operating activities,' as these are two of the three primary categories of business activities.