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 is important to consider when selecting a credit card?

Annual percentage rate (APR)

The number of digits in the card number

The issuing bank's logo design

The color of the card

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Understand the concept of Annual Percentage Rate (APR): APR represents the annual cost of borrowing on a credit card, including interest and fees. It is a critical factor to consider because it directly impacts the cost of carrying a balance on the card.

Evaluate why the number of digits in the card number is not relevant: The number of digits in a credit card number is standardized and does not affect the card's functionality or cost. It is not a factor in selecting a credit card.

Consider the issuing bank's logo design: While the logo design may reflect the bank's branding, it does not influence the card's terms, benefits, or costs. Therefore, it is not an important factor in the decision-making process.

Assess the color of the card: The color of a credit card is purely aesthetic and does not affect its features, interest rates, or benefits. It is not a relevant consideration when selecting a credit card.

Conclude that the Annual Percentage Rate (APR) is the most important factor to consider: Since the APR determines the cost of borrowing, it is a key criterion for selecting a credit card, especially for individuals who may carry a balance from month to month.