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

Activities ranging from development to production to after-sales service are called a(n):

General ledger

Value chain

Trial balance

Journal entry

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Verified step by step guidance

Step 1: Understand the concept of a 'Value Chain'. A value chain refers to the full range of activities that businesses engage in to bring a product or service from conception to delivery and beyond, including development, production, marketing, and after-sales service.

Step 2: Review the other options provided in the problem. A 'General Ledger' is a complete record of all financial transactions of a company, a 'Trial Balance' is a summary of all ledger accounts to ensure debits equal credits, and a 'Journal Entry' is a record of a financial transaction in the accounting system.

Step 3: Compare the definition of 'Value Chain' with the activities described in the problem, such as development, production, and after-sales service. These activities align with the concept of a value chain, as they represent the processes that add value to a product or service.

Step 4: Eliminate the incorrect options based on their definitions. The activities described in the problem do not match the purpose or function of a General Ledger, Trial Balance, or Journal Entry.

Step 5: Conclude that the correct answer is 'Value Chain', as it encompasses the range of activities mentioned in the problem.