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

Sales promotions include all of the following except:

Rebates

Advertising expenses

Coupons

Contests

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Verified step by step guidance

Understand the concept of sales promotions: Sales promotions are marketing strategies designed to boost sales or attract customers. They typically include incentives or offers to encourage purchases.

Identify common examples of sales promotions: Rebates, coupons, and contests are all examples of sales promotions because they provide direct incentives to customers to purchase products or services.

Clarify the role of advertising expenses: Advertising expenses are costs incurred to promote a product or service through various media channels, such as TV, radio, or online ads. These are not considered sales promotions because they do not directly offer incentives to customers.

Compare advertising expenses with sales promotions: While advertising expenses aim to create awareness and interest in a product, sales promotions focus on providing immediate incentives to drive purchases.

Conclude that advertising expenses are not part of sales promotions: Based on the definitions and examples, advertising expenses are excluded from the category of sales promotions.