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

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Which of the following best describes a payroll card?

A debit card linked directly to an employee's personal checking account.

A card used by employers to track employee attendance.

A prepaid card issued by an employer to pay employees' wages electronically.

A credit card used by employees to make business purchases.

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Verified step by step guidance

Understand the concept of a payroll card: A payroll card is a prepaid card issued by an employer to pay employees' wages electronically. It is not linked to a personal checking account, nor is it used for tracking attendance or making business purchases.

Compare the options provided in the question to the definition of a payroll card. Eliminate options that do not match the definition.

Option 1 describes a debit card linked to a personal checking account, which is not the same as a payroll card. Eliminate this option.

Option 2 describes a card used to track attendance, which is unrelated to payroll cards. Eliminate this option.

Option 4 describes a credit card used for business purchases, which is also unrelated to payroll cards. The correct answer is Option 3, as it matches the definition of a payroll card.