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

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Multiple Choice

Allison paid $5.80 to send 58 text messages. Based on this rate, how much would it cost her to send 40 text messages?

$3.20

$4.00

$5.00

$2.90

Verified step by step guidance

Step 1: Determine the cost per text message by dividing the total cost ($5.80) by the total number of text messages sent (58). Use the formula:

\frac{5.80}{58}

Step 2: Calculate the cost per text message from the division in Step 1. This will give you the rate per text message.

Step 3: Multiply the cost per text message (from Step 2) by the number of text messages Allison wants to send (40). Use the formula:

(\frac{5.80}{58}) \times 40

Step 4: Perform the multiplication to find the total cost for sending 40 text messages.

Step 5: Compare the calculated cost to the provided answer choices ($3.20, $4.00, $5.00, $2.90) to identify the correct answer.

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