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 two primary activities are typically carried out by members of a stock exchange such as the NYSE?

Buying and selling securities on behalf of clients

Issuing new shares and managing company payroll

Auditing financial statements and preparing tax returns

Setting accounting standards and regulating interest rates

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Verified step by step guidance

Understand the role of a stock exchange: A stock exchange, such as the NYSE, serves as a marketplace where securities (stocks, bonds, etc.) are bought and sold. It facilitates transactions between buyers and sellers.

Identify the primary activities: Members of a stock exchange typically engage in activities directly related to trading securities, such as buying and selling on behalf of clients. These activities are central to the functioning of the exchange.

Eliminate unrelated activities: Issuing new shares, managing company payroll, auditing financial statements, preparing tax returns, setting accounting standards, and regulating interest rates are not primary activities of stock exchange members. These tasks are typically handled by companies, auditors, or regulatory bodies.

Focus on client transactions: Members of a stock exchange often act as intermediaries, executing trades for clients and ensuring the smooth operation of the market. This is a key function of their role.

Conclude the correct answer: Based on the analysis, the primary activities carried out by members of a stock exchange are buying and selling securities on behalf of clients.