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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 a start-up expense for Maria's food truck?

Purchasing the food truck vehicle

Employee wages for the first month

Monthly fuel costs

Daily ingredient purchases

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Verified step by step guidance

Understand the concept of start-up expenses: Start-up expenses are costs incurred before a business begins operations. These are typically one-time costs necessary to establish the business.

Analyze each option provided in the problem: Determine whether each expense is a one-time cost incurred before operations begin or a recurring operational expense.

Option 1: Purchasing the food truck vehicle - This is a one-time cost required to establish the business and is considered a start-up expense.

Option 2: Employee wages for the first month - This is a recurring operational expense incurred after the business begins operations, not a start-up expense.

Option 3 and 4: Monthly fuel costs and daily ingredient purchases - Both are recurring operational expenses incurred during the business's operations, not start-up expenses.