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 ensures that a good idea for a business is actually a viable business opportunity?

The entrepreneur has a personal interest in the idea.

The business idea is unique and creative.

There is a market demand for the product or service.

The business can be started with minimal investment.

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Verified step by step guidance

Understand the concept of a viable business opportunity: A viable business opportunity is one that has the potential to generate profit and sustain itself in the long term. This requires market demand, feasibility, and alignment with resources.

Evaluate the importance of market demand: Market demand is crucial because it ensures that there are customers willing to purchase the product or service. Without demand, even the most creative or unique ideas may fail.

Analyze the role of personal interest: While personal interest in the idea can motivate the entrepreneur, it does not guarantee the business's success or viability. Viability depends on external factors like market demand and feasibility.

Consider the uniqueness and creativity of the idea: A unique and creative idea can differentiate the business from competitors, but it must still address a need or demand in the market to be viable.

Assess the feasibility of minimal investment: Starting a business with minimal investment can be advantageous, but it does not ensure viability unless the business can generate sufficient revenue to sustain itself.