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

Profit-sharing plans, commissions, bonuses, and stock options are examples of which of the following types of accounting?

Managerial accounting

Governmental accounting

Tax accounting

Financial accounting

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Verified step by step guidance

Understand the context of the question: The problem is asking about specific types of accounting that deal with profit-sharing plans, commissions, bonuses, and stock options.

Review the definitions of the accounting types provided in the options: Managerial accounting, Governmental accounting, Tax accounting, and Financial accounting.

Managerial accounting focuses on providing internal reports and analysis to help management make decisions, which often includes profit-sharing plans, commissions, bonuses, and stock options.

Governmental accounting deals with the financial activities of government entities and is not relevant to the context of the question.

Tax accounting focuses on compliance with tax laws and regulations, while Financial accounting deals with external reporting of financial information. Based on the context, Managerial accounting is the most relevant type.