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

Who typically provides the start-up financing for the majority of new small businesses?

The owners and their families

Commercial banks

Venture capital firms

Government grants

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Understand the context of start-up financing for small businesses. Start-up financing refers to the initial funds required to launch a new business, covering expenses such as equipment, inventory, and operational costs.

Recognize the typical sources of financing for small businesses. These sources can include personal savings, loans, investments, or external funding from institutions or individuals.

Analyze the options provided in the question: Owners and their families, Commercial banks, Venture capital firms, and Government grants. Consider which source is most commonly accessible and utilized by small business owners.

Evaluate the role of owners and their families in financing. Owners often use their personal savings or contributions from family members as the primary source of funding, especially for small businesses with limited access to external capital.

Compare the other options (Commercial banks, Venture capital firms, Government grants) to the role of owners and their families. Note that these sources may require established creditworthiness, significant business potential, or specific qualifications, which are less common for new small businesses compared to personal and family contributions.