Table of contents

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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

PayPal is an example of which of the following types of accounting?

Financial Accounting

Cost Accounting

Payment Processing Service (not a type of accounting)

Managerial Accounting

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Verified step by step guidance

Step 1: Begin by understanding the types of accounting mentioned in the problem: Financial Accounting, Cost Accounting, and Managerial Accounting. Each has distinct purposes and applications.

Step 2: Financial Accounting focuses on preparing financial statements for external stakeholders, such as investors and creditors, to provide a clear picture of a company's financial health.

Step 3: Cost Accounting is concerned with analyzing and tracking costs within a business to aid in cost control and decision-making processes.

Step 4: Managerial Accounting involves providing internal reports and analysis to assist management in planning, decision-making, and operational control.

Step 5: Recognize that 'Payment Processing Service' is not a type of accounting. PayPal, as a payment processing service, does not fall under any of the accounting categories listed in the problem.