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

The collection of all the different types of investments that belong to an individual is a(n) _____.

portfolio

journal

ledger

balance sheet

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Verified step by step guidance

Understand the term 'portfolio' in financial accounting. A portfolio refers to the collection of all investments owned by an individual or entity, such as stocks, bonds, mutual funds, and other assets.

Compare the term 'portfolio' with the other options provided: 'journal,' 'ledger,' and 'balance sheet.'

Recognize that a 'journal' is a record of financial transactions in chronological order, used for bookkeeping purposes.

Understand that a 'ledger' is a book or collection of accounts where financial transactions are categorized and summarized.

Learn that a 'balance sheet' is a financial statement that shows an entity's assets, liabilities, and equity at a specific point in time. None of these terms describe a collection of investments, making 'portfolio' the correct answer.