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

Payday lenders come in many forms, such as a corner-store lender, instant online loans, and which of the following?

Investment banks

Check-cashing outlets

Credit unions

Certified public accountants

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Verified step by step guidance

Understand the context of payday lenders: Payday lenders are financial institutions or services that provide short-term loans to individuals, often with high interest rates. They are typically used by people who need immediate cash and may not have access to traditional banking services.

Identify the types of payday lenders mentioned in the problem: The problem lists corner-store lenders and instant online loans as examples of payday lenders.

Evaluate the options provided: The options include Investment banks, Check-cashing outlets, Credit unions, and Certified public accountants. Consider which of these aligns with the characteristics of payday lenders.

Focus on the correct answer: Check-cashing outlets are a type of payday lender because they provide financial services to individuals who may not have access to traditional banking, often including short-term loans.

Exclude irrelevant options: Investment banks, Credit unions, and Certified public accountants do not typically operate as payday lenders. Investment banks focus on large-scale financial transactions, credit unions are member-owned financial cooperatives, and certified public accountants provide accounting services rather than loans.