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 true statement about business plans?

A business plan outlines the goals and strategies of a business.

Business plans often include financial projections and marketing strategies.

A business plan can help attract investors and secure financing.

Business plans are only necessary for large corporations.

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Verified step by step guidance

Step 1: Understand the purpose of a business plan. A business plan is a document that outlines the goals, strategies, and operational plans of a business. It is used by businesses of all sizes to guide their operations and decision-making.

Step 2: Review the components of a business plan. Business plans typically include financial projections, marketing strategies, operational plans, and other details that help define how the business will achieve its goals.

Step 3: Analyze the role of a business plan in attracting investors and securing financing. Business plans are often used to demonstrate the viability of a business to potential investors or lenders, regardless of the size of the business.

Step 4: Evaluate the statement 'Business plans are only necessary for large corporations.' This statement is incorrect because business plans are valuable for businesses of all sizes, including small businesses and startups, as they provide a roadmap for success.

Step 5: Conclude that the correct answer is the statement 'Business plans are only necessary for large corporations,' as it is not true and contradicts the universal applicability of business plans.