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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Which of the following generally is NOT a goal of a business budget?

To assist in planning future operations

To ensure the business pays the lowest possible taxes

To provide a basis for performance evaluation

To coordinate activities across different departments

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Verified step by step guidance

Understand the purpose of a business budget: A business budget is a financial plan that helps organizations allocate resources, plan for future operations, and set financial goals.

Analyze the options provided in the question: Each option represents a potential goal of a business budget. Evaluate whether each aligns with the typical objectives of budgeting.

Recognize that budgeting is primarily focused on planning, coordination, and performance evaluation: Budgets are tools for managing resources effectively, ensuring departments work together, and assessing whether financial goals are met.

Identify the option that does not align with budgeting goals: Paying the lowest possible taxes is not a primary goal of budgeting. Tax planning is a separate financial activity that may involve strategies outside the scope of budgeting.

Conclude that the correct answer is 'To ensure the business pays the lowest possible taxes,' as this is not generally considered a goal of a business budget.