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

Which of the following is NOT considered a basic bank service?

Facilitating fund transfers

Preparing tax returns

Granting loans

Accepting deposits

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Verified step by step guidance

Step 1: Understand the concept of basic bank services. Basic bank services typically include activities that banks perform to assist customers in managing their financial needs, such as accepting deposits, granting loans, and facilitating fund transfers.

Step 2: Analyze each option provided in the question. Determine whether each activity aligns with the definition of basic bank services.

Step 3: Evaluate 'Facilitating fund transfers.' This is a common service provided by banks to help customers move money between accounts or to other parties.

Step 4: Evaluate 'Granting loans.' Banks often provide loans to individuals and businesses as part of their core services.

Step 5: Evaluate 'Preparing tax returns.' This is not a typical service offered by banks, as tax preparation is generally handled by accountants or tax professionals, not financial institutions. Therefore, this option is NOT considered a basic bank service.