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 of the following is the least liquid asset?

Accounts Receivable

Land

Cash

Inventory

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Verified step by step guidance

Understand the concept of liquidity: Liquidity refers to how quickly and easily an asset can be converted into cash without significant loss of value.

Review the options provided: Accounts Receivable, Land, Cash, and Inventory.

Analyze each asset's liquidity: Cash is the most liquid asset as it is already in the form of money. Accounts Receivable is relatively liquid because it represents money owed to the company that can be collected soon. Inventory is less liquid because it requires selling goods to convert them into cash. Land is the least liquid because it typically takes time to sell and may involve significant transaction costs.

Compare the liquidity of the assets: Based on the analysis, rank the assets from most liquid to least liquid: Cash > Accounts Receivable > Inventory > Land.

Conclude that Land is the least liquid asset among the options provided.