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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is NOT a true statement about business plans?

Business plans can help attract investors and secure financing.

Business plans are only required for publicly traded companies.

Business plans are used to outline a company's goals and strategies.

Business plans often include financial projections and market analysis.

Previous problemNext problem

Verified step by step guidance

Step 1: Understand the purpose of a business plan. A business plan is a document that outlines a company's goals, strategies, financial projections, and market analysis. It is used to guide the business and attract investors or secure financing.

Step 2: Analyze the statements provided in the problem. Each statement describes a characteristic or purpose of a business plan. Determine which statement does not align with the general understanding of business plans.

Step 3: Evaluate the statement 'Business plans are only required for publicly traded companies.' This is incorrect because business plans are not exclusive to publicly traded companies. They are useful for all types of businesses, including private companies and startups.

Step 4: Confirm the other statements. Statements such as 'Business plans can help attract investors and secure financing,' 'Business plans are used to outline a company's goals and strategies,' and 'Business plans often include financial projections and market analysis' are true and align with the purpose of a business plan.

Step 5: Conclude that the incorrect statement is 'Business plans are only required for publicly traded companies,' as business plans are beneficial and applicable to all businesses, regardless of their trading status.