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 individuals or entities might need to review your credit report?

A doctor during a medical checkup

A grocery store cashier processing your payment

A friend helping you move

A potential landlord evaluating your rental application

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Understand the concept of a credit report: A credit report is a detailed record of an individual's credit history, including their borrowing and repayment activities. It is used by entities to assess financial responsibility and creditworthiness.

Identify the types of entities that typically review credit reports: These include lenders, landlords, employers (in some cases), and financial institutions. They use the report to evaluate the risk of lending money, renting property, or hiring an individual.

Analyze the options provided in the problem: A doctor during a medical checkup, a grocery store cashier processing your payment, and a friend helping you move are not entities that typically require access to your credit report. These roles do not involve financial risk assessment or decision-making based on creditworthiness.

Focus on the correct answer: A potential landlord evaluating your rental application is a valid entity that might need to review your credit report. Landlords often check credit reports to assess whether a tenant is likely to pay rent on time and manage financial obligations responsibly.

Conclude the reasoning: The correct answer is based on the landlord's need to evaluate financial reliability, which aligns with the purpose of a credit report. The other options do not involve scenarios where creditworthiness is relevant.