Table of contents

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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

In accounting and inventory management, how many units are there in a 'gross'?

120 units

144 units

12 units

100 units

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Verified step by step guidance

Understand the term 'gross' in accounting and inventory management. A 'gross' is a standard unit of measurement that equals 144 items.

Recognize that this term is commonly used in bulk inventory or wholesale transactions to simplify counting and calculations.

Compare the given options (120 units, 144 units, 12 units, 100 units) to the definition of 'gross' to identify the correct answer.

Note that 144 units is the correct representation of a 'gross' based on its definition.

Use this knowledge in inventory management scenarios where bulk quantities are described using terms like 'gross' for efficient communication and calculation.