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

It's beneficial to use some of your available credit because:

Responsible use of credit can help build a positive credit history.

It guarantees lower interest rates on all future loans.

Using all of your available credit will always improve your credit score.

Unused credit lines are automatically closed by lenders if not used.

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Verified step by step guidance

Understand the concept of credit utilization: Credit utilization refers to the percentage of your available credit that you are using. Responsible use of credit means using a portion of your available credit without maxing out your credit lines.

Learn about credit history: A positive credit history is built by demonstrating responsible borrowing and repayment behavior over time. This includes making payments on time and keeping your credit utilization low.

Clarify the impact on credit score: Using all of your available credit does not improve your credit score. In fact, high credit utilization can negatively impact your score as it may indicate financial stress.

Understand lender policies: Unused credit lines are not automatically closed by lenders unless specified in the terms of the credit agreement. However, inactivity may lead to account closure in some cases.

Recognize the benefits of responsible credit use: Responsible use of credit can lead to better credit scores, which in turn may result in lower interest rates on future loans and improved financial opportunities.