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 NOT a characteristic used to identify a business opportunity in accounting?

Personal interest of the accountant

Market demand

Potential for profit

Regulatory compliance

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Verified step by step guidance

Step 1: Understand the context of the question. The problem is asking which characteristic is NOT typically used to identify a business opportunity in accounting. This requires distinguishing between relevant and irrelevant factors in the decision-making process.

Step 2: Review the characteristics provided in the options. These include: 'Personal interest of the accountant,' 'Market demand,' 'Potential for profit,' and 'Regulatory compliance.'

Step 3: Analyze each characteristic. In accounting, identifying a business opportunity typically involves objective factors such as market demand, potential for profit, and regulatory compliance. These are essential for assessing the viability and sustainability of a business opportunity.

Step 4: Evaluate the option 'Personal interest of the accountant.' This is subjective and does not directly contribute to the identification of a business opportunity in accounting. Business opportunities are generally assessed based on external factors rather than personal preferences.

Step 5: Conclude that 'Personal interest of the accountant' is the characteristic that is NOT used to identify a business opportunity in accounting, as it does not align with the objective criteria typically considered in financial decision-making.