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 dispute over a contract between two people in the same city would most likely be heard first in:

A local civil court

An international arbitration tribunal

A federal tax court

The Supreme Court

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Understand the nature of the dispute: The problem involves a contract dispute between two individuals in the same city, which is a civil matter rather than a criminal, federal, or international issue.

Identify the jurisdiction: Since the dispute is between two individuals in the same city, it falls under local jurisdiction rather than federal or international jurisdiction.

Determine the type of court: Contract disputes are typically handled in civil courts, as they deal with private rights and obligations between parties.

Eliminate incorrect options: An international arbitration tribunal handles disputes involving parties from different countries, a federal tax court deals with tax-related issues, and the Supreme Court is reserved for significant constitutional matters or appeals.

Conclude that the correct answer is a local civil court, as it is the appropriate venue for resolving contract disputes between individuals in the same city.