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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

In the context of business organization, what is the term for the amount of money needed to open a business?

Capital

Profit

Revenue

Equity

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Verified step by step guidance

Understand the context of the question: It is asking for the term that represents the amount of money required to start a business.

Review the definitions of the given options: Capital, Profit, Revenue, and Equity.

Define 'Capital': Capital refers to the funds or financial resources needed to start and operate a business. It is the initial investment made by the owner(s) or obtained through financing.

Define 'Profit': Profit is the financial gain realized when revenue exceeds expenses. It is not the initial money needed to start a business.

Define 'Revenue' and 'Equity': Revenue is the income generated from business operations, while Equity represents the owner's claim on the assets of the business after liabilities are deducted. Neither term directly refers to the initial funds required to start a business.