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 a primary function of commercial bank loans?

Preparing financial statements for public companies

Providing short-term and long-term financing to businesses and individuals

Auditing the financial records of government agencies

Setting accounting standards for nonprofit organizations

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Verified step by step guidance

Understand the role of commercial banks: Commercial banks primarily serve as financial intermediaries, providing various financial services to businesses and individuals.

Identify the primary function of commercial bank loans: Commercial bank loans are designed to offer short-term and long-term financing to meet the needs of businesses and individuals, such as funding operations, purchasing assets, or managing cash flow.

Eliminate unrelated options: Preparing financial statements, auditing records, and setting accounting standards are not functions of commercial bank loans. These tasks are typically performed by accountants, auditors, or regulatory bodies.

Focus on the correct option: The correct answer highlights the core purpose of commercial bank loans, which is to provide financing solutions tailored to the needs of borrowers.

Conclude with the importance of this function: By offering loans, commercial banks play a critical role in supporting economic growth and enabling businesses and individuals to achieve their financial goals.