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 would NOT be considered a real estate fixture?

A ceiling fan installed and wired into the ceiling

Wall-to-wall carpeting that is glued to the floor

A refrigerator that is plugged in and can be easily removed

Built-in cabinets

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Verified step by step guidance

Understand the concept of a real estate fixture: A fixture is an item that is physically attached to the property and is considered part of the real estate. It typically cannot be removed without causing damage to the property.

Analyze each option provided in the problem to determine whether it qualifies as a fixture based on the definition.

Option 1: A ceiling fan installed and wired into the ceiling is considered a fixture because it is permanently attached to the property and cannot be removed without significant effort.

Option 2: Wall-to-wall carpeting that is glued to the floor is also considered a fixture because it is permanently affixed to the property and removing it would likely cause damage.

Option 3: A refrigerator that is plugged in and can be easily removed is NOT considered a fixture because it is not permanently attached to the property and can be moved without causing damage. This is the correct answer.