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 typically considered a cost associated with terminating employees?

Severance pay

Depreciation expense

Interest income

Inventory shrinkage

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Understand the concept of costs associated with terminating employees. These costs are typically expenses incurred by a company when ending an employee's employment, such as severance pay, outplacement services, or legal fees.

Analyze each option provided in the question to determine its relevance to employee termination costs.

Option 1: Severance pay. This is a direct cost associated with terminating employees, as it represents compensation provided to employees upon termination.

Option 2: Depreciation expense. This is an accounting allocation of the cost of tangible assets over their useful life and is unrelated to employee termination.

Option 3: Interest income and Option 4: Inventory shrinkage. Both are unrelated to employee termination costs. Interest income refers to earnings from investments, and inventory shrinkage refers to losses in inventory due to theft or errors.