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

In a single-business company, which of the following best describes the strategy-making hierarchy?

Functional-level strategy is developed first, followed by business-level and then corporate-level strategies.

Business-level strategy is ignored in favor of only corporate and functional strategies.

Corporate-level strategy is the primary focus, with business-level and functional-level strategies supporting it.

There is no need for a strategy-making hierarchy in a single-business company.

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Verified step by step guidance

Understand the concept of strategy-making hierarchy: In a single-business company, the strategy-making hierarchy typically involves three levels—corporate-level, business-level, and functional-level strategies. Each level serves a distinct purpose and supports the overall goals of the company.

Clarify the role of corporate-level strategy: Corporate-level strategy is the overarching strategy that defines the company's mission, vision, and long-term objectives. It is the primary focus in a single-business company because it sets the direction for the entire organization.

Explain the role of business-level strategy: Business-level strategy focuses on how the company competes in its specific market or industry. In a single-business company, this level is closely aligned with the corporate-level strategy and supports its goals.

Discuss the role of functional-level strategy: Functional-level strategy involves specific actions and plans within departments such as marketing, operations, finance, etc. These strategies are designed to implement and support the business-level and corporate-level strategies effectively.

Conclude the hierarchy: In a single-business company, the strategy-making hierarchy starts with corporate-level strategy as the primary focus, followed by business-level and functional-level strategies that support and align with the corporate-level goals.