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

A conglomerate is a corporation that ________.

owns and operates businesses in multiple, often unrelated, industries

is owned by the government and provides public services

focuses exclusively on a single line of business

is formed by merging two companies in the same industry

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Verified step by step guidance

Understand the definition of a conglomerate: A conglomerate is a corporation that owns and operates businesses in multiple, often unrelated industries.

Analyze the options provided in the problem to identify the correct description of a conglomerate.

Option 1: 'owns and operates businesses in multiple, often unrelated, industries' aligns with the definition of a conglomerate.

Option 2: 'is owned by the government and provides public services' does not describe a conglomerate; this is more characteristic of a government-owned entity.

Option 3: 'focuses exclusively on a single line of business' contradicts the concept of a conglomerate, which operates in multiple industries. Option 4: 'is formed by merging two companies in the same industry' describes a merger, not a conglomerate.