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

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Descriptive data about a customer in accounting typically includes categories such as:

Depreciation expense

Name, address, and contact information

Inventory turnover ratio

Total sales revenue for the year

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Verified step by step guidance

Understand the context of the question: Descriptive data about a customer in accounting refers to information that helps identify and communicate with the customer, rather than financial metrics or operational data.

Recognize that categories such as 'Depreciation expense,' 'Inventory turnover ratio,' and 'Total sales revenue for the year' are financial or operational metrics, not descriptive data about a customer.

Identify descriptive data about a customer, which typically includes personal or business information such as name, address, and contact information. These details are used for record-keeping and communication purposes.

Clarify the distinction between descriptive data and financial metrics: Descriptive data is qualitative and pertains to identifying the customer, while financial metrics are quantitative and pertain to the performance or financial status of the business.

Conclude that the correct answer is 'Name, address, and contact information,' as these are examples of descriptive data about a customer in accounting.