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

Going directly to a car dealer for a loan to keep things simple is an example of which type of decision?

Risk-averse investment

Diversification strategy

Convenience decision

Optimal financial planning

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Verified step by step guidance

Step 1: Begin by analyzing the context of the problem. The question is asking about a type of decision related to obtaining a car loan directly from a dealer.

Step 2: Understand the terms provided in the options. For example, 'Risk-averse investment' refers to minimizing risk in financial decisions, 'Diversification strategy' involves spreading investments to reduce risk, 'Convenience decision' focuses on simplicity and ease, and 'Optimal financial planning' involves making the best financial choices for long-term benefits.

Step 3: Evaluate the scenario described in the problem. Going directly to a car dealer for a loan is characterized by simplicity and ease, rather than a detailed financial analysis or risk management.

Step 4: Match the scenario to the most relevant term. The decision to go directly to a car dealer aligns with the concept of a 'Convenience decision' because it prioritizes simplicity over other financial considerations.

Step 5: Conclude that the correct answer is 'Convenience decision' based on the reasoning above, as it best describes the nature of the decision in the given context.